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The role of the nominated bank Learning objectives This chapter describes the role and responsibilities of a nominated bank. By the end of this chapter, you should be able to: ◆◆ describe the concept of a bank ‘acting on its nomination’; and ◆◆ understand what it means to be a […]
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Document characteristics and preparing documents-www.bankingallinfo.com Document characteristics and preparing documents-www.bankingallinfo.com 12.1 Introduction As discussed in Chapter 7, an issuing bank of a documentary credit gives an undertaking that it will honour a complying presentation made under it.A presentation will be made by, or on behalf of, the beneficiary. An issuing bank […]
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Advising amendments to a beneficiary – www.bankingallinfo.com Advising amendments to a beneficiary – www.bankingallinfo.com Learning objectives This chapter describes the process of advising an amendment to a beneficiary, with or without confirmation, and the manner in which the beneficiary notifies acceptance or rejection of an amendment. By the end of […]
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Confirming a documentary credit Confirming a documentary credit Learning objectives This chapter describes the process performed by a bank from the time of receipt of a documentary credit, which includes an authorisation or request for confirmation to be added, through to its sending of the advice to a second advising bank or […]
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SME and Agricultural Financing: Difference of operational Procedure Between Islamic and Conventional Banking SME and Agricultural Financing : Difference of operational Procedure Between Islamic and conventional Banking Small and medium Enterprises plays a vital role in the competitive financial market which depends on the managerial skills, product quality, access to […]
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How to make an Amendments from an issuing bank perspective? Amendments from an issuing bank perspective Learning objectives: This chapter describes the considerations for the creation of an amendment request by an applicant, the review of that request by the issuing bank and, subject to the issuing bank’s consent, the […]
Read moreCurrency Converter- Exchange Rates-Exchange Rates For long time I am searching the plugins of the currncey converter plugins but I do not find. Today I have got the plugins in a website https://bankstudy4u.com. And I have to go through the right side of the page and I click the + and I went to another […]
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Incoterms 2020 buyers and sellers responsibility Incoterms 2020 buyers and sellers responsibility Rules for Any Mode(s) of Transport The seven rules defined by Incoterms 2010 for any mode(s) of transportation are: EXW – Ex Works FCA – Free Carrier CPT – Carriage Paid To CIP – Carriage And Insurance Paid To […]
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Basics of Documentary Credit International Trade & its Practice Presented by: Md. Monjurul Haque, Joint Director, Bangladesh Bank. Agenda: International Business Transactions International Trade Finance Letter of Credit (LC) Related terms of LC Mechanics of Documentary Credit Regulatory Considerations International Business Transactions Key principal in all business transactions: – maximize sales & […]
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Documentary Credits and Their Variations Documentary Credits and Their Variations Documentary Credits Explained The independence principle: Central to documentary credit business is the independence of the bank’s undertaking to pay from the underlying contract between the buyer & seller. This means that the bank’s undertaking to pay the beneficiary is not […]
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What are the Articles of URR 725? Page 1 of 17 The Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits (URR-725) (Effective date: 01 October 2008) Page 2 of 17 Changes made in URR 725 URR 725 should not be seen as a revision of URR 525. It is an updating process that […]
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Documentary credits and other methods of settlement Learning objectives Documentary credits and other methods of settlement? This chapter provides an overview of what a documentary credit is, with a basic flow chart to describe the steps from the contract agreement until settlement for a documentary credit that is not confirmed by the advising […]
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The role of the ICC and the development of the UCP The role of the ICC and the development of the UCP 2.1 The role of the International Chamber of Commerce (ICC) The International Chamber of Commerce (ICC) is the world business organization- a representative, body that speaks with authority on behalf of enterprises from […]
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The history and use of documentary credits Learning objectives: What is the history and use of documentary credits? This chapter includes a brief history of the documentary credit, insight into currently available statistics (2013 data) and the types of transaction for which a documentary credit is often chosen as the […]
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