Tag: Export Import Credit Facilities
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Understanding the different types of Trust Receipt (TR)
There are generally two types of Trust Receipts that are commonly used in international trade transactions: In both cases, the borrower is responsible for the goods until they are fully paid off, and the bank or financial institution retains ownership of the goods until the borrower completes the repayment of the loan. The terms and…
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Illustration of Trust Receipt (TR)
A trust receipt also called as clean import loan, is a financial document used in international trade transactions, where a bank or financial institution releases goods to a buyer who has not yet paid for them. Essentially, the bank or financial institution will take ownership of the goods until the buyer pays for them, and…
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Navigating the Letter of Credit Process as a Seller: Understanding the Steps Involved
As a seller, the process of dealing with a Letter of Credit (LC) involves several steps to ensure that the transaction is carried out in a secure and efficient manner. Here are the general steps involved in dealing with an LC from the seller’s point of view: It’s important to note that the seller should…
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A Buyer’s Guide to the Letter of Credit Process: Understanding the Steps Involved
As a buyer, the process of opening a Letter of Credit (LC) involves several steps to ensure that the transaction is carried out in a secure and efficient manner. Here are the general steps involved in opening an LC from the buyer’s point of view: It’s important to note that the buyer should seek professional…
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Analysing the Types of Letter of Credit (LC)
There are several types of letters of credit (LOCs) commonly used in international trade transactions in UAE. Here are some of the most common types:
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Lets Learn about Letter of credit (LC)
A letter of credit (LC) is a document that is issued by a bank in the UAE on behalf of a buyer (importer) to guarantee payment to a seller (exporter) for international trade transactions. It is commonly used in UAE for importing goods from foreign countries. Here’s how it works in the context of UAE:…
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