NEWS / BLOG

May 31, 2019

When dealing with Bank Guarantees (Demand Guarantees) and Letters of Credit (Documentary Letters of Credit), you may often hear someone discuss the use of SWIFT MT799.

The MT799 is a type of SWIFT message that banks use to securely communicate authenticated free format...

May 31, 2019

Importers

  1. When choosing what type of letter of credit to use, the importer should consider the standard payment methods in the exporter's own country.

  2. The importer should keep all of the details of the purchase short and concise.

  3. The importer should use a...

May 31, 2019

An At Sight Letter of Credit is a letter of credit (LC) that is payable once the exporter/seller meets all of the requirements of the letter of credit.


This type of LC provides the fastest mode of payment to the exporter/seller, when selling to their overseas importers...

June 14, 2017

In the trade finance market, there are really only two basic forms of letters of credit: The Standby Letter of Credit (SBLC) and Documentary Letter of Credit (DLC).

Revocable or Irrevocable Documentary Letters of Credit

Documentary Letters of Credit (DLC) can be issued a...

June 12, 2017

Many times, in a contract or agreement, there is a need for a third party (often a bank) to guarantee to pay a specific amount of money to one party if the counterparty defaults.

By receiving a Bank Guarantee (BG), the guarantee transfers the creditworthiness of the app...

June 7, 2017

The Standby Letter of Credit serves a different function than the commercial letter of credit or Documentary Letter of Credit (DLC).

The Documentary Letter of Credit (DLC) is a primary payment instrument for a transaction.

The Standby Letter of Credit (SBLC) serves as a...

June 5, 2017

In order to facilitate trade, letters of credit achieve their purpose by using the credit of the customer rather than the credit the bank.

There are mainly two types of letters of credit: commercial and standby.

The commercial letter of credit is often known as a Documen...

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MT799 - What is SWIFT MT799?

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