What is a red clause letter of credit, and do some suppliers demand if for order fulfilment? The best way to make money they say is never to lose money. Every seller wants Letters of Credit to be sure they receive payment after order fulfilment but are all LCs safe for buyers? No matter how desperate you […]
How safe is Red Clause Letter of Credit Read More »
Imagine if you have to load your crude oil into drums or barrels before you ship them to a foreign country? I am sure you don’t want to go through such stress in the name of shipping. Tankers are vessels used for carrying large quantities of liquid products from one to another. Without wasting your
Types of Marine Tankers: Similarities and Differences Read More »
Letter of credit is a letter assuring a seller of issuing bank’s readiness to make payment to the seller in case their customer, a buyer defaults payment after order fulfilment. In my previous post, I discussed a few basic things you need to know about Letters of Credit. Our focus today will be on often used Letters
Commonly Used Letters of Credit Read More »
What are the advantages of Letter of Credit? Why do exporters prefer it to other payment instruments? In this article, we will be focusing on the types of LC and its advantages to importers and exporters. Keep reading. Letter of Credit ranks among the best payment instruments in an international transaction. It is one of
Understanding Letter of Credit Read More »
What is Cost, Insurance, and Freight (CIF), and what are its benefits in foreign trade? Also, why do some businessmen prefer it to other incoterms when dealing with foreigners? Before signing on the dotted lines in any contract, you need to know the implications of every term and condition. What is Cost Insurance and Freight?
Cost, Insurance and Freight (CIF) Trade Agreement Read More »
One of the international commercial terms we would be looking at today is Ex Works or EXW. What is Ex Works trade agreement, and who benefits more in an EXW transaction contract? These are the few questions that this article will be answering. What is EX Works Trade Agreement The term defines a contract in
EX Works Trade Agreement (exw) Vs FOB Read More »