[This is another blast from the past (1996), when I was wearing another hat as the President of a finance company in Bombay. Nowadays I simply watch from the galleries the market and the smart Johnnies making the same mistakes over and over again. My core interest over the last two decade is on what … Continue reading THE EMPIRE STRIKES BACK
(It is a re-print of an old article of 1996 on the beginning of the end of NBFCs) Year end is the time for introspection, to take stock and to do crystal gazing. To look at the latest balance sheet, arrive at the losses and the gains, and rework one’s strategy for the future. It’s … Continue reading QUO VADIS, NBFC?
By Rupnarayan Bose Introduction: Is UCP 600 Article 10 flawed? It took nearly 4 years and several rounds of meetings by the Drafting Group of the ICC, with 92+ countries contributed through their respective National Committees, to revise the UCP. Twelve years have passed since UCP 600 was launched. Yet, only now, the following article … Continue reading The confusing world of confirmed credits
Do you or your staff need to upgrade their skill in documentary credits, cargo insurance or Incoterms 2010? Here are a few simple questions to help you judge for yourself (care: there are a few 'googlies'): Is there any relation between CIP Incoterms 2010 and Institute Cargo Clause C? How are these two linked?LC 'place … Continue reading How well you know your letters of credit (LC) or Incoterms?
The exporter should check the LC immediately on receipt - NOT later. Make sure that you are OK with all the terms. Are they as agreed with your counter-party? Do you understand all the terms absolutely clearly? Can you perform them within the time permitted by the LC? Can you identify the hidden land mines … Continue reading Exporter’s Check-list for LCs