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LC Assist Singapore
- Jun 30, 2020
- 2 min
What is A Standby Letter of Credit?
You might think that a Standby Letter of Credit (SBLC) is just another form of commercial LC with standard additional features. Contrary to that, SBLC is entirely different from the commercial LC. SBLC is technically similar to Bank Guarantee or Demand Guarantee, which is mainly serves as a guarantee to be executed only when the primary means of settlement is not honored. The term SBLC is commonly used in countries whereby the law disallow banks to give any sort of guarantee
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LC Assist Singapore
- Jun 30, 2020
- 3 min
Why Letter of Credit
In the first place, why Letter of Credit (LC)? Is there any other alternatives? Why is LC still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. We hope to address some of the questions that you have in mind surrounding LC and hope you can benefit from it. What is an LC? A Letter of Credit, which f
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LC Assist Singapore
- Jun 30, 2020
- 2 min
What is eUCP?
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic
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LC Assist Singapore
- Jun 28, 2020
- 2 min
How to Ensure Global Common Understanding to Compliance of Letter of Credit
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic
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LC Assist Singapore
- Jun 28, 2020
- 6 min
Trade Settlement Options (other than Letter of Credit)
Why is Letter of Credit (LC) commonly used in the international trade? What about other alternatives to it? Is there any other settlement method that can be used for my trades? In this post, we would like to give some ideas as to how trades settlement is commonly conducted. The following are most commonly use settlement options in a trade. 1. Open Account In an open account payment settlement arrangement, a seller agrees to deliver the goods or services without first receivin
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LC Assist Singapore
- Jun 28, 2020
- 2 min
Dispute Resolutions Concerning Letter of Credit
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic
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LC Assist Singapore
- Jun 28, 2020
- 2 min
Role of The International Chamber of Commerce (ICC)
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic
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LC Assist Singapore
- Jun 28, 2020
- 2 min
Who is International Chamber of Commerce?
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic
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LC Assist Singapore
- Jun 28, 2020
- 2 min
History of Letter of Credit
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic
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LC Assist Singapore
- Jun 28, 2020
- 2 min
What is UCP600?
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic
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