In a letter of credit transaction, a letter of credit is a bank guarantee, usually issued by the buyers bank, guaranteeing that the buyer will pay the purchase price to the seller in accordance with the contract. The following are the clauses and requirements of a letter of credit:
In international trade, the transportation of goods involves many documents and procedures, one of which is the Destination Release Order. However, this term may be unfamiliar to many. Below, we will explain in detail what a Destination Release Order is and its role in international trade.
PSB certification is a mandatory safety certification in Singapore. It requires that listed electrical products must be PSB - certified before they can be sold in Singapore.
Import inspection is a prerequisite for cargo customs clearance. Currently, import inspection consists of three main parts: 1. Declaration; 2. Sampling; 3. Inspection.
A bankers acceptance bill refers to a bill issued by the acceptor and entrusting the accepting bank to unconditionally pay the specified amount to the payee or the holder of the bill on the specified date.
Telegraphic Transfer (T/T) is now a relatively common foreign trade payment collection method. Payment is made through bank transfer. The remitting bank, in accordance with the requirements of the remitter and the instructions of the foreign remitting bank, settles a certain amount of money to the payee.
There are four commonly used payment methods in international trade, namely Telegraphic Transfer (T/T), Letter of Credit (L/C), Documents against Payment (D/P), and Documents against Acceptance (D/A).
The license number refers to the number of the import and export goods license issued by the competent department of commerce under the State Council and its authorized issuing agencies. The licenses mentioned here specifically refer to import licenses and export licenses.
3C, officially named China Compulsory Certification, abbreviated as 3C certification. Organization and implementation. For products subject to national compulsory certification, the state issues a unified catalog, determines applicable national standards, technical regulations and implementation procedures uniformly, and establishes unified labeling.
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PSB Record: Shanghai No.31011502009912
