How to open an LC? Procedures to open a Letter of Credit

Letter of Credit – A common term known to almost all business world. What is Letter of Credit? How does LC work? How to open a Letter of Credit? What are the advantages of Letter of Credit to Exporter?

Why need Certificate of Origin

Why do you need ‘Certificate of Origin’ in International Trade

Terms used in freight forwarding such as carnet,carrier’s lien,carriers certificate,cash against documents

Terms used in freight forwarding such as carnet,carrier’s lien,carriers certificate,cash against documents etc.

How to prepare an Export Invoice. Contents of Export commercial Invoice

An exporter’s point of view, invoice is the prime document in business

Terms of Payment in Export and Import

4 Different types of terms of payment in International Trade.

What is Black list certificate from Shipping Line

Have you heard about Black list certificate earlier?

How to calculate chargeable weight under airfreight in exports?

How to calculate chargeable weight under airfreight in exports and imports.

How to obtain GSP - Certificate of Origin?

There are two types of certificates of origin in India - Certificate of origin issued by Chamber of commerce and Certificate of origin issued by Export Inspection Agency. Customs of some importing countries insist either of them to certify the country of origin of goods

Spelling error in LC? Is wrong spelling a discrepancy under Letter of credit?

Wrong spelling in LC documentation

Can Bill of Lading (BL) be before date of Certificate of origin GSP?

Why should Certificate of Origin – GSP – date be before shipment date? Can BL date be after GSP date? Can GSP and BL date be on same day?

Who is a prime banker to check authenticity of letter of credit?

Why LC with a prime banker is safe?

Disadvantages of LC (letter of Credit) to Importer.

Demerits of Letter of Credit to Importer

How to make DA mode of payment safe

Compared to any other mode of payments in international trade, Documents against acceptance – DA terms of delivery – is the riskiest mode. However, some of the buyers in international trade seeks least period of credit with the supplier – say 30 days from the date of bill of lading etc., even though transit period of goods is more than 45 days

Difference between mother vessel and feeder vessel

What is Feeder Vessel? What is the size of a Feeder Vessel? How does Feeder Vessel serve? How to differentiate Mother Vessel between Feeder Vessel? What is the capacity of a Mother Vessel? How does Mother Vessel serve?

How to customs clear Cargo arrived in a port where in import license obtained for another port

Is DP terms of payment safe in export business?

What is DP term of payment? How does DP term of payment work?

GSP, a brief guide to exporters

GSP CERTIFICATES OF ORIGIN - A GUIDE FOR EXPORTERS

How to obtain Certificate of Food Safety and Standard Authority

How to send export samples to foreign buyer? Tips to send samples to foreign buyer

Some of you may need a support on procedures to send export samples to your buyer at foreign country. Sending export samples is a simple procedure under export and import.

How does Bill of Lading work in DP payment terms?

How does Bill of Lading work in DP (DAP) payment terms of exports and imports?

What is LC Letter of Credit in export import business

Letter of credit is an assurance given by the buyer’s bank to remit the amount to the seller through seller’s bank on maturity, as per the terms and conditions of document based on the contractual agreement between buyer and seller.

How to claim CST against supply to EOU, EHTP and STP

CST reimbursement procedures for STP, EOU and EHTP

A simple tutorial on high sea sale procedures and formalities in India

High Sea Sales - Procedures and formalities in India.

Non receipt of Cargo Arrival Notice, Can importer sue against shipping company

Is Dispatch of CAN is mandatory by shipping company. What happens if buyer not known on arrival of exported goods?

How to protect parties each other in triangular exports

Before reading this article, I suggest my readers to go through all other articles related to triangular trade which make you more clear about the procedures and formalities of triangle trade.

How to prepare an Export Packing list. Contents of Export Packing list

Although the packing list means the details of packing, most of the details of invoice also must be mentioned as per the specified format.

Difference between Pro forma Invoice and Commercial Invoice in Export Import Trade. Do pro-forma invoice accepts for import customs clearance?

One of the common questions arises in a business terms is the ‘difference between pro forma invoice and invoice’. ‘What is pro forma invoice’, ‘What is commercial invoice’ and ‘what is the difference between commercial invoice and pro forma invoice’.

How to obtain a duplicate BL, if original bill of lading lost.

How to obtain a duplicate BL, if original bill of lading lost?

Difference between Letter of credit and Bank Guarantee

What is the difference between BG and LC? How does Letter credit work and how LC differs from Bank guarantee.

Clean On board Bill of Lading Vs. Shipped On board Bill of Lading

Difference between Clean On Board Bill of Lading and Shipped On Board Bill of Lading.

How to get RCMC from Export Promotion Councils

How to get RCMC from Export Promotion Councils of India

Is Received for shipment Bill of Lading sufficient for LC negotiation?

Is received for shipment Bill of Lading sufficient for LC negotiation?

Difference between Demurrage and Detention in import

In this article, I am trying to differentiate between Demurrage and Detention in port clearance under International trade. Here, I would like to state that demurrage and detention are two separate terms in imports and exports.

Can Bill of Entry be filed before arrival of vessel in India? What is section 46 of Indian customs Act.

Amendment of Sec 46 and Sec 47 of Indian Customs Act

The parties involved in an LC Letter of Credit - LC

Who are the parties involved in a Letter of Credit – LC

Disadvantages of Letter of credit (LC) for Exporter

Dis advantages of Letter of Credit to Exporter

Documents against Acceptance How reliable the terms of payment in exports

DA terms of payment - Payment terms ‘DA’ means Documents against Acceptance

Advance payment the best way of terms for business

Best method of terms of payment in exports

TYPES OF MARINE INSURANCE POLICIES

How many types of marine Insurance Policies are there? Different clauses of marine insurance policies, Scope of cargo insurance policy and how does marine Insurance policies work?