Categorybanking

Letter of Credit Fraud

bank guaranty

Letters of credit provide great capacity for fraud because they are used in transactions where goods are not sighted directly by the buyer, and are often paid for after shipment, not upon receipt...

Credit Letters type and Their use in Trade

letter of credit

In this post we will list some major and most used credit letter type in the import export international trade(credit letter trade). Confirmed letter of credit In the event of a confirmed letter of...

Bank Guarantees in the sugar industry

loading brazilian sugar

Today we get FCO (full corporate offer) from trading company offering Brazilian sugar Icumsa45.after running over this offer we realized that many seller and buyer(new gamer in this type of deal)...

trade with the SWIFT MT-760

SWIFT MT760 The MT-760 is a type of SWIFT message that is sometimes requested in trading because it functions much like a Bank Guarantee, although it carries with it a much higher level of risk for...

CAN THE SWIFT MT-103 BE USED IN TRADE

SWIFT MT-103’s are the most commonly used form of SWIFT communication, and one which many people will have utilized without even knowing it. For most bank customers, they are known not as MT-103’s at...

Bank Capability Letter (BLC) Sample

Our reference: (enter title, order numbers or other references) Date: (enter date) To: End supplier company, Via International Group for Advanced Solurions Name of the Bank: (replace with bank name)...

credit letter and sellers doubts

products export by credit letter

Replaying to the demand of our reader today we will guide new exporter how to work with LC in export. Our reader asked for our support as he is exporting for the first time his products by the use of...

Letter of Credit Text (MT 700)

Swift MT 700 is used when certain Bank institutions around the world are unable or unwilling to verify account holders funds using the Swift MT 760. Such is the case at the present time with the Bank...

Bank Guarantee Frequently asked questions

1. What is a Bank Guarantee (BG), why not any other bank instruments? Bank Guarantee is a financial instrument promising to pay the beneficiary the amount mentioned therein upon maturity of the...

Container Types

Container Types 10′ x 8’6″ Dry Cargo ISO Containers 10′ x 8’6″ Steel Dry Freight Refurbished New, Refurbished and Used Containers available. “Tunnels (doors...

Transferable Credits Rules

how does letter of credit work

article 38 1. A bank is under no obligation to transfer a credit except to the extent and in the manner expressly consented to by that bank. 2. For the purpose of this article: Transferable credit...

SWIFT MESSAGES

 Table of Swift Messages with Brief Description Category 1 – Customer Payments & Cheques MT MT Name Purpose 101 Request for Transfer Requests to debit a customer’s account held...

Your sidebar area is currently empty. Hurry up and add some widgets.