Issuing a documentary credit Learning objectives: In the context of this chapter, the words ‘customer’ and ‘applicant’ are interchangeable and reflect the status pre-issuance (customer) and post-issuance (applicant). This chapter describes the process performed by a bank from the time of its receipt of an application form, as completed by […]
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Payment Methods in import and export transactions In import and export transactions, sellers and buyers do not necessarily know each other and are taking many more risks than in domestic trade. How can sellers ensure that they will be paid? Should the currency in which they will be paid drop […]
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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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