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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
In January 2019 exports from Poland grew faster than imports for the first time since May 2018. Poland's foreign trade deficit amounted to EUR 100 million after January 2019. Exports amounted to EUR 18.1 billion, a 2.5 percent increase year ...Read More
In February, Turkey had the highest February export figure in the country's history. Exports increased by 5% in the first two months of the year, and imports decreased 23.1%.” The Trade Minister said that the rate of exports covering imports ...Read More
A new greenfield container terminal at the Port of Gävle, Sweden is to be developed based on finance from a Swedish investment company. Gävle is Sweden’s third largest container port, and has experienced significant growth for some time. Demand for ...Read More
Exports from Korea are continuing to decelerate during the month of March, which is endangering Korea's main contributor to the economy. The Customs Service said that exports in the first 10 days of March fell by 19.1 percent compared with ...Read More
