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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
British beef exports to the USA have begun again after a 20 year break. It was banned after the BSE outbreak in 1996, when cattle were infected by 'Mad Cow Disease'. Some beef from the UK was cleared for export ...Read More
The Safe Haven certification scheme has been reviewed and updated to cover areas such as closer monitoring of water use and crop storage. Safe Haven protects against any pest or disease that can be imported or introduced by seed. The ...Read More
Tags: exports
All air freight cargo capacity from Asia will probably be absorbed by the autumn release of new mobile phone and playstation models. More than half the available airfreight capacity was removed by the cancellation of passenger flights in the spring. ...Read More
Tags: air freight, China, freight, rail freight, shipping
Industrial action at four Australian ports is causing disruption to Australia’s international supply chains. Businesses in Australia rely on two modes of transport: Sea Freight and Air Freight. Air Freight has been reduced due to closing of borders, so there ...Read More
