A Cautionary Tale of Incoterms and Payment

2020-05-12T17:39:58+00:00November 2nd, 2016|

How much thought do you give to the underlying contract delivery terms when requesting letters of credit from overseas buyers? The Incoterms® rules, published by the International Chamber of Commerce, define the responsibilities of seller and buyer in respect of cost, risk and other obligations whilst goods are in transit. Whilst these rules do not [...]

Managing the Letters of Credit Process

2018-05-24T15:05:51+00:00October 10th, 2016|

Who do you currently present your letter of credit documents to? Your own bank? Another preferred bank in your own country? Or…… are you being forced to deal with a local office of the issuing bank or their preferred correspondent?  Consider completing and sending to your customer a Letter of Credit Request Template prior to the issuance [...]