Trade Tips

Different Types of LC

Jul 25, 2012

Import/export Letter of Credit It is said to the credit which buyer assigns i so that he imports a product to his own country and in general this credit is in another country and its value is export value. Revocable Letter of Credit ...

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Letter of Credit Is Document That Financial Institution to Seller of Goods or Services

Jul 23, 2012

A letter of credit is a document that a financial institution or similar party issues to a seller of goods or services which provides that the issuer will pay the seller for goods or services the seller delivers to a third-party buyer. The ...

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Incoterms - a.K.a. Trade Terms Are Key Elements of International Contracts of Sale

Jul 6, 2012

Incoterms - a.k.a. Trade Terms are key elements of international contracts of sale. They tell the parties what to do with respect to carriage of the goods from buyer to seller, and export & import clearance. They also explain the division ...

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ODM Is Specified and Eventually Branded by Another Firm for Sale.

Jun 26, 2012

An original design manufacturer (ODM) is a company which designs and manufactures a product which is specified and eventually branded by another firm for sale. Such companies allow the brand firm to produce (either as a supplement or ...

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Bill of Exchange Is Written Order by Drawer to Drawee to Pay Money to The Payee

Jun 21, 2012

A bill of exchange or "draft" is a written order by the drawer to the drawee to pay money to the payee. A common type of bill of exchange is the cheque (check in American English), defined as a bill of exchange drawn on a banker and payable ...

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NTBs Also Include Unjustified and/or Improper Application of Non-Tariff Measures

Jun 14, 2012

Non-Tariff Barriers (NTBs) refer to restrictions that result from prohibitions, conditions, or specific market requirements that make importation or exportation of products difficult and/or costly. NTBs also include unjustified and/or ...

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T/T Means Telegraphic Transfer, or Simply Wire Transfer

Jun 14, 2012

T/T means telegraphic transfer, or simply wire transfer. It's the simplest and easiest payment method to use. T/T payment in advance is usually used when the sample and small quantity shipments are transported by air. The reason why is ...

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A Certificate of Origin Is a Document Used in International Trade

Jun 12, 2012

A Certificate of Origin (often abbreviated to CO or COO) is a document used in international trade. It is a printed form, completed by the exporter or its agent and certified by an issuing body, attesting that the goods in a particular ...

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Specified Goods Have Been Received on Board

Jun 11, 2012

International ocean freight bill of lading in the International shipping ocean freight industry also referred as a B/L or BOL. This shipping document used for shipping freight overseas by sea issued by an International ocean freight carrier ...

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OEM Is Purchased by Another Company and Retailed

Jun 5, 2012

An original equipment manufacturer, or OEM, manufactures products or components that are purchased by another company and retailed under that purchasing company's brand name. OEM refers to the company that originally manufactured the ...

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What Is a Letter of Credit?

May 25, 2012

What is a Letter of Credit? A Letter of Credit is a payment term generally used for international sales transactions. It is basically a mechanism, which allows importers/buyers to offer secure terms of payment to exporters/sellers in ...

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Atlas AV Has Completed a Renovation of The Extensive Audiovisual Exhibition

May 22, 2012

UK-Atlas AV has completed a renovation of the extensive audiovisual exhibition surrounding The Crown Jewels at the Tower of London. Explaining the technology installed,Alan Williams,operations manager at Atlas AV says,"The ...

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Incoterms - a.k.a. Trade Terms Are Key Elements of International Contracts of Sale

May 14, 2012

What are Incoterms Incoterms - a.k.a. Trade Terms are key elements of international contracts of sale. They tell the parties what to do with respect to carriage of the goods from buyer to seller, and export & import clearance. They also ...

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