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Do you really understand documentary credits? Let's find out !
Once a documentary credit has been notified to the beneficiary, the applicant:
When applying for the opening of a documentary credit, the applicant:
In the event that the beneficiary wishes to have the documentary credit amended:
How are banks obligated to verify the veracity of the information provided in the documents in relation to the goods that are actually shipped?
Are there international rules regulating documentary credits that can be incorporated by the parties into their contracts?
Do changes in the client's situation (bankruptcy) have an impact on the issuing bank's obligations?
When does the beneficiary's right to payment first arise and under what circumstances?
The transferable documentary credit allows:
The banks examine the documents provided by the beneficiary, according to:
In a credit valid at the notifying bank's counters, the exporter must submit his documents to this bank:
How are disputes related to documentary credits settled? By referring to:
How can the parties organise a documentary credit when they want the payment to be made in advance?
What typical guarantees can be required by the issuing bank from the applicant?
What risks are "covered" by an irrevocable and notified documentary credit?
What risks are "covered" by an irrevocable and confirmed documentary credit?
A documentary credit can be settled:
How many different ways can a documentary credit be established?
When does a beneficiary lose the "benefit" of his documentary credit?
The fees for a documentary credit are:
This website lists the practices and techniques related to documentary credits, and informs companies on the latest developments in terms of new technologies linked to these operations.
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