UCP 600-Uniform Customs and Practice for Documentary Credits eUCP 600 (Version 2) The ICC recently issued a supplement on the latest eRules for the Uniform Customs & Practice for Documentary Credits (eUCP 600). This is the second version (V2.0). Here, we summarise the key changes in the eUCP...
The Differences Between Standby Letters of Credit and Commercial Letters of Credit? Standby letters of credit and commercial letters of credit are two main documentary credit types used in international trade transactions. A standby letter of credit is a bank’s undertaking of fulfilling the applicant’s obligations. In case,...
Before we talk about the advantages and disadvantages of using a Letter of Credit in International Transactions lets find out what A Letter of Credit Means. What Is a Letter of Credit? A letter of credit, or "credit letter" is a letter from a bank guaranteeing...
Using Bank Guarantees (BG) & Letters of Credit (LC) In International Trade. This article is about using Bank Guarantees (BG) and Letters of Credit (LC) In International Trade. Bank Guarantees (BG) and Letters of Credit (LC) Are Used In International Trade Transactions To Finance Imports and export...
Introduction to Documentary Letters of Credit A Documentary Letter of Credit (DLC) is a crucial financial instrument used in international trade to guarantee payment between buyers and sellers. This article will delve into the details of a DLC, including its various uses and benefits, as well...
How to spot Fake Bank Guarantee and Standby Letter of Credit provider There is so much misinformation in the Bank Guarantee and Standby Letter of Credit Industry largely because there is a huge vacuum of information. So we advise everyone to be very sure that the...
Standby Letter of Credit (SBLC) / Bank Guarantee (BG) Provider- Grand City Investment Limited Financial instruments, mainly Bank Guarantess or Standby Letters Of Credit (BG/SBLC), are monetary contracts between parties. They can be created, traded, modified and settled. They can be cash (currency), evidence of an...
This article is about using Bank Guarantees (BG) and Letters of Credit (LC) In International Trade Bank Guarantees (BG) and Letters of Credit (LC) Are Used In International Trade Transactions To Finance Imports. International trade is a risky activity – importers may not pay after receiving the...
In previous articles, we discussed different types of bank instruments such as Bank Guarantee, Standby Letter of Credit etc but in this article we will tell you everything you need to know about Letters Of Credit, the different types of Letters Of Credit and uses...
Grand City Investment Limited provided $50m trade finance facility to CNTIC The facility will be used for a electricity generation project in rural Myanmar. Grand City Investment Limited (Hong Kong) has provided a $50m account receivable purchase facility to China National Technical Import & Export Corporation (CNTIC)...
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