Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Received for shipment B/L is also known as the Lash B/L as it is issued by the lash operator
Bill of Lading
Short form Bill of Lading Do not contain the full details of the contract of carriage. However, they are considered as the documents of title. It is the one which only states the name of the shippers, name of the ship, date of shipment, etc. Even if the terms and conditions are stated it would be stated with reference to the other document. Generally charter party B/L are of this nature. Some of the credits specifically prohibit the acceptance of short form B/L or blank back. Liner Bill of Lading Indicates that goods are being transported on a ship that travels on a scheduled route, so exporter can reasonably assume that his goods will reach the buyers country by a set date
Cont..
Freight Forwarder an indispensable member of the international trade community, acts as an agent/principal between exporter and importer. The International Federation of Freight Forwarders Associations (or FIATA, French: Fdration Internationale des Associations de Transitaires et Assimils) FIATA B/L or FBL a standard form of B/L issued by a freight forwarder; along with other forwarder bills in which the agent accept full responsibility as a carrier Acceptable as the clean on board B/L issued by a carrier FBL is a negotiable multimodal transport document
Road Waybill
The road waybill is a document containing the details of the international transportation of goods by road, set out by the Convention for the Contract of the International Carriage of Goods by Road in 1956 (the CMR Convention). Convention International pour le transport des Marchandises par la Route (CMR convention) Usually, a CMR is issued for each vehicle. The CMR is not a document of title and also non-negotiable.
Rail Waybill
The rail waybill is a document required for the transportation of goods by rail. It is regulated by the Convention concerning International Carriage by Rail 1980 (COTIF). It is considered as the rail transport contract.
Back to back L/C attempts to structure deals by another bank primary obligor, or pre export finance. Taking another banks standby L/C or guarantee as security for helping this type of transaction is actually considered as an attempt at eliminating or reducing corporate risk.
Sub- Supplier
Advising Bank 2.
8. Back to Back LC is advised 5. Sales Contract
Trader
Advising Bank 1.
Back to Back LC
3. LC issued
4. LC advised
1. Sales Contract
Issuing Bank
2. LC Application
Reimbursement Bank
Importer
B/B L/C
Banco do Indochino (Singapore) Issuing Bank 1 Credit Bank (London) Advising L/C 1 2 Applicant (Singapore) Benone (London) Beneficiary L/C 1 Applicant L/C 2 Certificate of Origin (Iran) 4 Credit Bank (London) Issue L/C2 B/B L/C 5 I E D B Iran Bank Advising Bank 6 Bentwo (Iran) Beneficiary L/C 1
Certificate of Origin
WTO is the foundation on which the rules of origin are framed by the respective countries
There are two categories of Certificates of Origin Preferential Non-preferential
Generalized System of Preference (GSP) Agreement by which industrialized countries unilaterally and on the basis of non reciprocity extend tariff concessions to developing countries. The following countries extend tariff preferences under their GSP Scheme The US, EU, Canada, Australia (only to LDCs), New Zealand, Japan, Norway, Switzerland, Bulgaria, Poland, Hungary, Belarus, Slovakia, Russia, Czech Republic. GSP schemes details the sectors/products and tariff lines under which these benefits are available
Certificate of Origin
SAPTA This agreement was signed by the seven SAARC countries namely India, Pakistan, Nepal, Bhutan, Bangladesh, Sri Lanka and Maldives. This is also known as SAARC Preferential Trading Arrangement To motivate the trade and thereby growth in the developing and under developed countries of ASIA. Also, it was aimed to develop intra-regional economic co-operation. ESCAP The Bangkok agreement is a preferential trading arrangement for the relaxation of tariff and non-tariff barriers designed to liberalize and expand trade in goods progressively in the Economic and Social Commission for Asia and Pacific (ESCAP) region.
Certificate of Origin
Global System of Trade Preference (GSTP): In the GSTP trade concessions are exchanged among developing countries, who have signed the agreement Free Trade Agreement (FTA) An agreement between India and Sri Lanka Known as ISFTA Custom Tariff concession Non-preferential Certificate of Origin only evidences the origin of goods from a particular country and does not bestow any tariff benefits for exports to the importing nations.
Risk in B/B L/C Traders creditworthiness may be judged from the corporate risk perspectives. Along with the track record of the trader high value collateral may provide a solution to the banks involved. The generic risk in this kind of deals: all the banks involved are utilizing the financial credit worthiness of just one asset, to finance a number of trades. In case the price of the products collapse in the international market traders would like to come out from the transactions. The Advising bank under any principal L/C who intends to issue a letter of credit against it, must be in direct control of all documentation and cash flows.
Transferable It is used where an exporter merchant or agent plays the role of an intermediary between a supplier (one or several suppliers) and the importer. The exporter (first beneficiary) transfers all or a portion of its right to a supplier beneficiary (known as the second beneficiary(/ies) in the UCP). Such credit can be transferred only once (from first to second beneficiaries but not from second to third) The first beneficiary (the exporter) may request the paying, accepting, or negotiating bank to make the credit available in whole or in part to one or more second beneficiaries The L/C must designate the L/C as transferable. The importer may accept the risk that the ultimate source of the contract goods remains unknown; thereof, it is difficult for the importer to be assured of the ultimate suppliers reputation and reliability. If the words transmissible, assignable, divisible and fractionable are used then the L/C is not transferable
The letter of credit that was transferred or made available to the second beneficiary is known as the transferred credit. The bank that makes the transfer is known as transferring bank The term transferred credit and transferable credit are different Unless otherwise agreed between the first and second beneficiary, the first beneficiary must pay the transferring bank charges. The export-trader (the first beneficiary) can use a transferable L/C to transfer the full amount of the credit to his/her supplier (exportmanufacturer or the second beneficiary) and acts as the consigner of the goods. The first beneficiary does not issue his/her own invoice and draft. The first beneficiary collects a payback from the second beneficiary, representing the difference between the purchase value from the supplier and the export value