Blog - Trade finance India

Exchange of goods and services across national boundaries brings greater problems to both buyer and seller than does domestic Diversity of customs, standards, currencies, local regulations, languages and legal systems The Documentary Letter of Credit is widely used to reduce the financial risks of trade. Importer wants to ensure performance while exporter wants to secure...

Commonly found discrepancies between the letter of credit and supporting documents include: Letter of Credit has expired prior to presentation of Bill of Lading evidences delivery prior to or after the date range stated in the Stale dated Changes included in the invoice not authorized in the Inconsistent description of Insurance document errors. Invoice amount...

Advising bank means the bank that advises the credit at the request of the issuing bank. Applicant means the party on whose request the credit is Beneficiary means the party in whose favour a credit is Confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour...

A documentary letter of credit, also referred to as “letter of credit or simply LC’, is an Irrevocable, written undertaking by a commercial bank, issued at the request of the buyer (Applicant) in favor of the seller (beneficiary), to the effect that payment for certain goods or services will be made against a complying presentation...