A Letter of Credit, also known as a documentary credit, is a method of payment that makes international sales more secure for both the buyer and the seller. Predominantly, the letter of credit...
Posts by kelvinsee
The word “Dray” as a noun is a carriage that is pulled by a horse, which does not make any sense in supply chain logistics. The word “Drayage” when used as a verb as an act of transferring...
Before we discuss the difference between DAP and DPU, it is good to point out that INCOTERM 2020 has 4 predominant rules of INCOTERM: - E rules – Ex WorkF rules – FCA, FAS, FOBC rules – CFR,...
INCOTERMs are heavily relied on to distribute transportation responsibilities that is distributed between the importer and the exporter. Here is a table of what is the best possible INCOTERM for the...
A more adept question would be, why an original bill of lading is issued in 3 copies? As a matter of fact, there are multiple users of the bill of lading, an exporter can request as many copies of an...
Letter of Credit is a financing tool used to facilitate international trade by big banks. As a bank’s product, the beneficiary to the letter of credit can be transferred to another party. Provided...