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A Letter of Credit (LC) is a document issued by a bank on the instructions of a buyer of goods, giving the seller of the goods the right to receive payment under specified terms, when the bank receives the relevant documents (usually including an original bill of lading) within a given time period.
See also Bill of Lading
Freight rates for shipping containers from east Asia and China to both US coasts are increasing again. US consumer demand for goods continues to grow. Volumes at China's ports are expected to remain high, before returning to normal growth rates ...Read More
Tags: China, containers, Freight Shipping
South Korea's antitrust regulator said that it has decided to impose a combined fine of $80.7 million in fines on 23 Korean and foreign shipping companies for collusion to fix freight rates. The Fair Trade Commission has been looking into ...Read More
A NEW southern freight service operating in and out of France is being launched by a company in St Malo. A large cargo ship may arrive in Jersey three times a week. A new vessel, the 55-metre Norwegian-built Southern Liner, ...Read More
Last year imports into Colombia totaled 6,545 million US dollars in November. Thisannual growth of 56.3%, is one of the highest rates in recent years. A total of 54,891 million US dollars, makes it the year with the highest imports ...Read More
