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Letterofcredit.biz news digest

  • 5 years

    What Happens if Due Date of a Letter of Credit Falls on a Bank Holiday?

    Letter of credit is a conditional payment method. It is only payable if the issuing or confirming bank determines that the presentation is complying.
    Once, either the issuing bank or the confirming bank determines that the presentation is complying, the letter of credit amount must be paid to the beneficiary on due date....

  • 5 years

    What are the Differences Between MT 700 and MT 760?

    MT700 and MT760 swift message types that banks use when issuing documentary credits and guarantees, respectively.
    Banks use MT700 when issuing a commercial letter of credit or a standby letter of credit.
    Banks use MT760 when issuing a demand guarantee or a standby letter of credit....

  • 5 years

    How to Determine Date of Shipment on a Road Transport Document?

    Date of shipment is one of the key definitions in a letter of credit transaction. It is used to determine
    whether shipment made on time or not (in other words a late shipment has been effected or not)
    whether documents presented within the presentation period or not (in other words a late presentation has been effected or not)...

  • 5 years

    How to Determine Date of Shipment on a Charter Party Bill of Lading?

    Date of shipment is one of the key definitions in a letter of credit transaction. It is used to determine
    whether shipment made on time or not (in other words a late shipment has been effected or not)
    whether documents presented within the presentation period or not (in other words a late presentation has been effected or not)...

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Updated: September 16, 2022
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Created: June 15, 2009

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