Types of letters of credit?

The letter of credit is a payment tool that can be used to finance both make domestic and international purchases. There are many different types of letters of credit. What…

Continue Reading Types of letters of credit?

Incoterm 2020 DAP: When is it used?

What is Incoterm® 2020 DAP? The Incoterm 2020 DAP (Delivery at Place), requires that the cargo be delivered by the seller at a place designated by the buyer. Normally this…

Continue Reading Incoterm 2020 DAP: When is it used?

CIF Incoterms

What does CIF mean in international trade? CIF stands for Cost Insurance and Freight. It is included in Incoterms® 2020 and one of the most important terms to ever be…

Continue Reading CIF Incoterms

A Hidden Risk In DDP

Delivered Duty Paid or DDP, is the only Incoterm that requires the seller to act as the importer of record in the buyer's country. Buyer's typically opt to trade on…

Continue Reading A Hidden Risk In DDP

Commercial Invoice Template

What is a commercial invoice? A commercial invoice, sometimes referred to as a CI, is a document prepared by a seller. This document is provided to the buyer. It describes…

Continue Reading Commercial Invoice Template

Shipping EXW Incoterms 2020

EXW Incoterms 2020 : A Few Quick Points Ex Works (EXW) Incoterms can be used for all modes of transport and even when there are multiple modes of transport involved…

Continue Reading Shipping EXW Incoterms 2020

Shipping DDP Incoterms 2020

DDP Incoterms 2020 : A Few Quick Points Delivered Duty Paid (DDP) Incoterms works on any type of transport (air, land, rail, sea, etc.) DDP can also be used for…

Continue Reading Shipping DDP Incoterms 2020

Letters of Credit: How Do They Work?

The concept of a letter of credit is easy to understand if you already have some knowledge of escrow services. Basically, the bank acts as an independent 3rd party, holding…

Continue Reading Letters of Credit: How Do They Work?