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Letter of Credit L/C 1.Customer and supplier agree on L/C as method of payment
Letter of Credit 2.Customer gives order to open L/C 2.Customer gives order to open L/C
Letter of Credit 3.Customer´s bank informs somebody about the opening of L/C 3.Customer´s bank informs somebody about the opening of L/C
Letter of Credit 4.Supplier´s bank confirms the credit to the supplier 4.Supplier´s bank confirms the credit to the supplier
Letter of Credit 5.Supplier dispatches the goods 5.Supplier dispatches the goods
Letter of Credit 6.Supplier receives the duplicated Bill of Lading 6.Supplier receives the duplicated Bill of Lading
Letter of Credit 7. Supplier produces Bill of Lading 7. Supplier produces Bill of Lading
Letter of Credit 8.Supplier receives cash or acceptance 8.Supplier receives cash or acceptance
Letter of Credit 9.Supplier´s bank sends shipping documents 9.Supplier´s bank sends shipping documents
Letter of Credit 10.Customer´s bank hands out the shipping documents 10.Customer´s bank hands out the shipping documents
Letter of Credit 11.Customer presents the documents 11.Customer presents the documents
Letter of Credit 12.Goods are released 12.Goods are released
Letter of Credit. An order is sent to the exporter. It is agreed that payment will be by letter of credit (L/C) Importer sends L/C application to his.
EXPORT/IMPORT PROCEDURES. FOB FREE ON BOARD Cost of freight & insurance to a certain point in the transportation link (usually within the exporting country)
1 RXQ Customer Drop Submitted by Supplier Process Flow Diagram Customer Supplier Distribution Company Supplier sends Drop Request to Distribution.
CHAPTER 8 Documentary Letters of Credit A letter of credit is a substitute for cash. It allows the seller to receive payment after the goods hav3e been.
1 RXQ Customer Drop Submitted by Distribution Company Process Flow Diagram Customer Supplier Distribution Company 2 1 sends Drop Request to Supplier.
Methods of Payments Cash in Letter of Documentary Open Advance Credit Collections Account Most Advantageous to the Exporter Most Advantageous to the Importer.
Export Processing – Step By Step 2 Step I Seller contacts a Buyer after studying the market 3.
HOW TO WRITE A LETTER. PAYMENT Invoices are not only requests for payment, but also records of transactions which give both the buyer and seller information.
Letter of Credit or documentary credit. It consists of a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and.
+ Cash in Advance Neutral Zone + Insurance Ex-Im Bank CEFO Letters of Credit Standby Commercial (Acceptances) Confirmed Transferable Back-to-Back Assignment.
Document #06-2H Enrollment Process (via Uniform Electronic Transaction) Customer Supplier Distribution Company Customer authorizes Enrollment
1 Graham Thorpe Trade Finance Manager (A UK incorporated and UK FSA regulated Bank) Nigerian Trade Finance -Impact of Changes.
Trading Documents Importance of Documents in Trade Documents Used in Hong Kong Importance of Documents in External Trade Documents Used in External.
Chapter 11 THE REVENUE CYCLE. Introduction Revenue cycle: 1. Respond to customer inquiries 2. Develop agreements with customers to provide goods and services.
Methods of Payment in exporting and importing Cash in advance Letter of Credit Open account Consignment sales.
1 OUTLINE FOR CHAPTER 22 Understand –Basic needs of export/import financing –Main instruments (letter of credit, bill of exchange, and bill of lading)
1 RXQ Ad Hoc Historical Usage Using a Registration Agent Process Flow Supplier Registration Agent Registration Agent sends Historical Usage Request.
14. LETTERS OF CREDIT: PROCEDURES 1. LETTERS OF CREDIT I.THE NEED FOR LETTERS OF CREDIT A. USES TO THE SELLER WITH A FIRST-TIME CUSTOMER WITH A CREDIT.
PAYING THE FILING FEE CHAPTER 7: 1 For Complaints and Notices of Removal this screen appears after attaching your documents. It verifies the filing fee.
© 2014 Cengage Learning. All Rights Reserved. Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO1 Explain the purpose of entering the.
Document #07-12G 1 RXQ Customer Enrollment Using a Registration Agent Process Flow Diagram (Switch) Customer Supplier Customer authorizes Enrollment.
Process for E Payment of Customs Duty BY N. H. DESAI & CO.
There are many different ways of making and receiving payments. MAKING A PAYMENT Cash Cheque Credit cards Debit cards Direct debit Credit transfers.
© McGraw Hill Companies, Inc., 2000 Exporting, Importing and Countertrade Chapter 15.
Green Deal Customer Journey Presentation to EMCAN Forum Presentation By: Peter O’Neill Date: 2 nd October 2013.
Chapter 39 The “Life Cycle” of a Letter of Credit Although the letter of credit appears quite complex at first, it is not difficult to understand. This.
1 RXQ Customer Drop Submitted by Distribution Company Process Flow Diagram Customer Supplier Distribution Company sends Drop Request to Supplier.
OBJECTIVES What is a business document Why are documents necessary Name and explain the documents used in trade Identify instruments of payment.
Project Ⅲ Task 1 Export Procedure （ 3 ）. Market Research Any exporter who wants to sell his products in a foreign country or countries must first conduct.
Merchandise Vendor Payment Update. 1 Background This document outlines 1.The key vendor requirements to ensure timely payment 2.Details our Commercial.
REQ Drop from Demand Response Programs Process Flow Retail Customer Demand Response Service Provider (DRSP) Distribution Company 1 Drop Request.
Financing International Trade 26 Lecture Chapter Objectives To describe the methods of payment for international trade; To explain common trade.
Chapter 12 The Revenue Cycle: Sales to Cash Collections Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall 12-1.
+N OTE ALL NOTES, HOWEVER, ARE CONSIDERD TO BE “ CLAUSE ” +F OR EXAMPLE : “ SECOND - HAND CASES ”; “ SAID TO WEIGHT ”… +T O AVOID DISPUTED, THE TWO SITES.
Import/ Export Process – Phase 1: Negotiate and Securing the Deal Importer –Buyer in South Africa needs fabric for production –Looks at the following before.
Mitigating Risk Inherent in International Trade AMCHAM: Doing business with Colombia Wednesday 6 th April & Tuesday 12 th April, 2011.
Step By Step Guide for Application. 1. Click the “Register” button ① Ⅰ. Registration.
1 Drop Submitted by Supplier Customer Supplier Distribution Company Supplier sends Drop Request to Distribution Company (??) Distribution Company receives.
Presentation on: Documentary Credits BY: Fairuz Chowdhury Lecturer, BBS.
Financing Foreign Trade International Financial Management Dr. A. DeMaskey.
© 2003 McGraw-Hill Australia Pty Ltd, PPTs t/a Accounting Information & Reporting Systems by A. Aseervatham and D. Anandarajah. Slides prepared by Kaye.
Massimiliano Di Pace1 INTERNATIONAL PAYMENTS Handling international payment can be complicated and risky The problems can be: - currency - transfer of.
1 STATISTICAL DATA ON THE BANKS PAYMENT SYSTEMS IN FINLAND May 2013.
IST331 Assignment 7 Task-Action Diagrams Answer Guide.
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