Guide to Documentary credits

Historians have been able to trace the use of documentary credits back as far as ancient Egypt and Babylon. However, it was not until the 1 8th and 19th centuries that the term ‘letter of credit’ became widely used and recognized.

What is the content of a certificate of origin?

What is the content of a certificate of origin

What is the content of a certificate of origin Certificate of origin: Certificate of origin is a signed document that appears to relate to the invoiced goods and certifies their origin. ISBP says regarding Certificate of origin- Basic requirement and fulfilling its function L1) When a credit requires the presentation of a certificate of origin, …

What is the content of a certificate of origin Read More »

Commercial invoice requirements for export or Import

Commercial invoice requirements for export or Import

Commercial invoice requirements for export or Import Commercial invoice: A commercial invoice is a document records a transaction between the seller and the buyer and used in trade. It is a declaration by the seller of a sale. Commercial invoices are normally prepared by sellers/beneficiaries and made out in the name of the buyer/applicant. It …

Commercial invoice requirements for export or Import Read More »

Documentary credits and other methods of settlement

Documentary credits and other methods of settlement

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 bank. In order to draw …

Documentary credits and other methods of settlement Read More »

The role of the ICC and the development of the UCP

The role of the ICC and the development of the UCP

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 all sectors in every part …

The role of the ICC and the development of the UCP Read More »

The history and use of documentary credits

The history and use of documentary credits

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 method of settlement. By the …

The history and use of documentary credits Read More »