Business
Business related articles
lmportance of Article 13(b) of the UCPDC on Reasonable Time
September 3, 2018
lmportance of Article 13(b) of the UCPDC on Reasonable Time
Prior to 1993 revision of UCP, the ‘reasonable time’ allowed to the issuing bank to verify the documents to judge…
Will the issuing bank be responsible to the negotiating bank for any loss of interest
September 3, 2018
Will the issuing bank be responsible to the negotiating bank for any loss of interest
Under Article 19 (D) the issuing bank will be responsible to the negotiating bank for any loss of interest if…
What are the duties and responsibilities of the negotiating bank under a letter of credit
September 3, 2018
What are the duties and responsibilities of the negotiating bank under a letter of credit
Negotiating Bank (i) Unless the negotiating bank is nominated in the credit and it accepts the nomination or it is…
What are the Duties and Responsibilities of the Confirming Bank and Reimbursing Bank under a letter of credit
September 2, 2018
What are the Duties and Responsibilities of the Confirming Bank and Reimbursing Bank under a letter of credit
(c) Confirming Bank (i) When a bank in the exporter’s country adds its confirmation to the credit, it gives an…
What are the Duties and Responsibilities of Issuing Bank and Advising Bank in a Letter of Credit
August 26, 2018
What are the Duties and Responsibilities of Issuing Bank and Advising Bank in a Letter of Credit
Duties and Responsibilities of Issuing Bank in a Letter of Credit (i) The issuing bank is primarily responsible for payment…
Distinguish between Guarantee Letter of Credit and a Standby Letter of Credit
August 26, 2018
Distinguish between Guarantee Letter of Credit and a Standby Letter of Credit
Standby Letter of Credit. Article 2 of UCP states that credit includes standby credits but does not define the term.…
What is Restricted Letter of Credit in Foreign Trade
August 21, 2018
What is Restricted Letter of Credit in Foreign Trade
Restricted Letter of Credit. The issuing bank may restrict the negotiation of the documents under the letter of credit to…
The Responsibilities of the Parties to the Red Clause Letter of Credit
August 21, 2018
The Responsibilities of the Parties to the Red Clause Letter of Credit
Red Clause Letter of Credit. Also known as `packing’ or ‘anticipatory’ credit, the letter of credit contains a clause usually…
Precautions to be taken when Opening a Back-to-Back Letter of Credit against an irrevocable letter of credit
August 21, 2018
Precautions to be taken when Opening a Back-to-Back Letter of Credit against an irrevocable letter of credit
Back-to-back Credit. Where the beneficiary under a letter of credit is an intermediary procuring goods from suppliers and likes the…
What is a Transferable Letter of Credit
August 21, 2018
What is a Transferable Letter of Credit
A transferable credit is one under which the exporter has the right to make the credit available to third parties.…