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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
The UNICEF Humanitarian Airfreight Initiative has been formed with leading airlines for the transport of vaccines, and other life-saving supplies worldwide. These airlines have signed agreements with UNICEF to prioritise delivery of COVID-19 vaccines, essential medicines, medical devices and other ...Read More
Tags: air freight, Covid-19, freight
During the 2018-19 season, almost 28% of Washington state apples were shipped to 60 different countries. Industry officials expect exports for the 2020-21 crop to be below that figure and possiblye to drop to levels not seen in nearly two ...Read More
Japan imported 112,100 tonnes of fresh fruit during February 2021, which was an 8 per cent reduction on the total imports 12 months earlier. The reduced import volume can be attributed to the shortage of reefer containers worldwide. A spokesman ...Read More
Tags: containers, imports
U.S. demand for imports of products made in China, including personal protective equipment for COVID-19, furniture and toys, increased considerably at the end of 2020. This means that ocean carriers prioritize getting shipping containers back to China as quickly as ...Read More
Tags: China, containers, Covid-19, shipping
