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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
Now that the UK has left the EU single market and customs union, the government has deregulated commodities like citrus fruit and leaf imports. The UK is a major export market for South Africa’s citrus sector, reportedly taking 9.5% of ...Read More
A freight ship sunk on Sunday off the coast of Turkey’s Black Sea province of Bartin, killing at least three crew members. It was said that the vessel was a Russian dry freight vessel but this information was later corrected. ...Read More
Fresh raspberries and blackberries from Poland showed the largest increase in revenue for fruit exports in the first nine months of 2020. The berry exports increased by 42% from 2019. The increase was mainly driven by the rise in export ...Read More
Tags: exports
A new rail freight service from Jinhua to Dourges, in France has been initiated. Freight forwarders are warning of congestion on overland freight routes, as rail freight becomes more popular. The first train on the new route left Jinhua on ...Read More
Tags: China, freight, rail freight
