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	<title>Letter of Credit in Trade</title>
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	<description>Applications and Operations of Letter of Credit in International Trade</description>
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		<title>Letter of Credit in Trade</title>
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		<item>
		<title>Transferable Letter of Credit: Is It Really &#8220;Transferable&#8221;?</title>
		<link>http://tradeguide2u.wordpress.com/2008/06/17/transferable-letter-of-credit-is-it-really-transferable/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/06/17/transferable-letter-of-credit-is-it-really-transferable/#comments</comments>
		<pubDate>Tue, 17 Jun 2008 06:17:36 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[article 38]]></category>
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		<category><![CDATA[bakrie brothers]]></category>
		<category><![CDATA[bank negara indonesia]]></category>
		<category><![CDATA[lariza]]></category>
		<category><![CDATA[letter of credit]]></category>
		<category><![CDATA[privy council]]></category>
		<category><![CDATA[transferable]]></category>
		<category><![CDATA[ucp 400]]></category>
		<category><![CDATA[ucp 500]]></category>
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		<description><![CDATA[Letter of credit can be qualified in a number of ways and it is well recognized that a transferable credit is no different from any other apart from the fact that it enables the beneficiary of the credit to “transfer” the benefit to a third party. Where the credit itself is not stated to be [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=99&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Bank Guarantee: Part 2</title>
		<link>http://tradeguide2u.wordpress.com/2008/06/04/bank-guarantee-part-2/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/06/04/bank-guarantee-part-2/#comments</comments>
		<pubDate>Wed, 04 Jun 2008 12:38:19 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[advance]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[bond]]></category>
		<category><![CDATA[guarantee]]></category>
		<category><![CDATA[indemnity]]></category>
		<category><![CDATA[letter]]></category>
		<category><![CDATA[payment]]></category>
		<category><![CDATA[performance]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/?p=96</guid>
		<description><![CDATA[Bid Bond (Tender Bond) This guarantee is required in connection with public tenders. If a company participates in such a tender, it must submit a bid bond together with its offer. Bid Bonds there secure payment of the guarantee amount:   in the event of withdrawal of the offer before its expiry date if the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=96&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Commercial Invoice</title>
		<link>http://tradeguide2u.wordpress.com/2008/06/03/commercial-invoice/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/06/03/commercial-invoice/#comments</comments>
		<pubDate>Tue, 03 Jun 2008 07:23:37 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[document]]></category>
		<category><![CDATA[commercial]]></category>
		<category><![CDATA[invoice]]></category>

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		<description><![CDATA[Commercial Invoice is a bill for the goods shipped to the buyer. It is the accounting document for seller’s claim on the buyer for goods sold to the buyer. Commercial Invoice would normally contain the following information: 1. Names and addresses of the buyer and the seller 2. Date of invoice, sale contract or firm [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=17&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Shipping Guarantee: Part 2</title>
		<link>http://tradeguide2u.wordpress.com/2008/06/03/shipping-guarantee-part-2/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/06/03/shipping-guarantee-part-2/#comments</comments>
		<pubDate>Tue, 03 Jun 2008 07:21:54 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[financial instrument]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[bill]]></category>
		<category><![CDATA[guarantee]]></category>
		<category><![CDATA[lading]]></category>
		<category><![CDATA[shipping]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/?p=16</guid>
		<description><![CDATA[In international trade, banks deal with documents and not with physical goods although these documents represent goods and movement of goods. The regulatory and commercial requirements of international trade have resulted in the use of many and varied documents. It is not unusual to see exports department and imports department staff of banks buried under [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=16&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Revolving Credit</title>
		<link>http://tradeguide2u.wordpress.com/2008/06/03/revolving-credit/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/06/03/revolving-credit/#comments</comments>
		<pubDate>Tue, 03 Jun 2008 07:19:33 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[financial instrument]]></category>
		<category><![CDATA[credit]]></category>
		<category><![CDATA[letter]]></category>
		<category><![CDATA[revolving]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/?p=15</guid>
		<description><![CDATA[ (RC) is one that is available for an amount that remains constant for a given period of time so that whenever it is drawn upon, it becomes available again for the full amount, either immediately or as soon as advice is received from the issuing bank that earlier presentations are acceptable to them. Alternatively, it [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=15&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Red Clause Letter of Credit</title>
		<link>http://tradeguide2u.wordpress.com/2008/06/03/red-clause-letter-of-credit/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/06/03/red-clause-letter-of-credit/#comments</comments>
		<pubDate>Tue, 03 Jun 2008 07:17:22 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[clause]]></category>
		<category><![CDATA[credit]]></category>
		<category><![CDATA[letter]]></category>
		<category><![CDATA[red]]></category>

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		<description><![CDATA[  The purpose of red clause in a documentary credit is to enable the beneficiary to obtain pre-shipment advances from the advising or confirming bank, at the expense of the beneficiary, but under the responsibility of the issuing bank. This red clause is so termed because it is usually printed in red on the credit [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=14&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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	</item>
		<item>
		<title>Bank Guarantee</title>
		<link>http://tradeguide2u.wordpress.com/2008/06/03/bank-guarantee/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/06/03/bank-guarantee/#comments</comments>
		<pubDate>Tue, 03 Jun 2008 05:26:39 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[financial instrument]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[guarantee]]></category>
		<category><![CDATA[instrument]]></category>
		<category><![CDATA[irrevocable]]></category>
		<category><![CDATA[non-performance]]></category>
		<category><![CDATA[obligation]]></category>
		<category><![CDATA[pay]]></category>

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		<description><![CDATA[In international trade, it is difficult for the buyer to accurately assess the professional ability and financial position of a supplier or seller. The situation is worst when both parties are domiciled in different countries. The buyer therefore, quite rightly, demands that the seller’s ability to perform be secured and for this purpose a Bank [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=4&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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	</item>
		<item>
		<title>Shipping Guarantee: Part 2</title>
		<link>http://tradeguide2u.wordpress.com/2008/05/28/shipping-guarantee-part-2-2/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/05/28/shipping-guarantee-part-2-2/#comments</comments>
		<pubDate>Wed, 28 May 2008 08:27:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[bill]]></category>
		<category><![CDATA[guarantee]]></category>
		<category><![CDATA[indemnity]]></category>
		<category><![CDATA[lading]]></category>
		<category><![CDATA[shipping]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/05/28/shipping-guarantee-part-2-2/</guid>
		<description><![CDATA[In international trade, banks deal with documents and not with physical goods although these documents represent goods and movement of goods. The regulatory and commercial requirements of international trade have resulted in the use of many and varied documents. It is not unusual to see exports department and imports department staff of banks buried under [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=80&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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		<item>
		<title>Standby LC and Principle of Autonomy</title>
		<link>http://tradeguide2u.wordpress.com/2008/05/22/standby-lc-and-principle-of-autonomy/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/05/22/standby-lc-and-principle-of-autonomy/#comments</comments>
		<pubDate>Thu, 22 May 2008 07:52:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[non-performance]]></category>
		<category><![CDATA[performance]]></category>
		<category><![CDATA[standby letter of credit]]></category>
		<category><![CDATA[ucp]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/05/22/standby-lc-and-principle-of-autonomy/</guid>
		<description><![CDATA[The traditional LC for import and export transaction is issued to provide the exporter with a guarantee of payment when performance has occurred by submitting documents in accordance with the terms and conditions of the LC. However, the standby LC (SBLC) for import and export transaction is issued to provide the exporter with a guarantee [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=78&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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		<item>
		<title>Back-to-Back LC and Inherent Risks</title>
		<link>http://tradeguide2u.wordpress.com/2008/05/22/back-to-back-lc-and-inherent-risks/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/05/22/back-to-back-lc-and-inherent-risks/#comments</comments>
		<pubDate>Thu, 22 May 2008 05:47:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[back to back]]></category>
		<category><![CDATA[icc]]></category>
		<category><![CDATA[LC]]></category>
		<category><![CDATA[risks]]></category>
		<category><![CDATA[ucp 500]]></category>
		<category><![CDATA[ucp 600]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/05/22/back-to-back-lc-and-inherent-risks/</guid>
		<description><![CDATA[When the beneficiary of a credit who is not the actual supplier of goods wishes to open a second credit in favour of his supplier, the first credit not being transferable, he may request a bank to issue a back to back credit (BBC), i.e. one which uses the first credit or master credit (MC) [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=77&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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	</item>
		<item>
		<title>Shipping Guarantee</title>
		<link>http://tradeguide2u.wordpress.com/2008/05/12/shipping-guarantee/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/05/12/shipping-guarantee/#comments</comments>
		<pubDate>Mon, 12 May 2008 08:47:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[bill of lading]]></category>
		<category><![CDATA[goods]]></category>
		<category><![CDATA[indemnity]]></category>
		<category><![CDATA[margin]]></category>
		<category><![CDATA[shipping guarantee]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/05/12/shipping-guarantee/</guid>
		<description><![CDATA[Shipping Guarantees are issued by banks to enable importing customers to effect clearance of goods in circumstances where the bill of lading covering the cargo has not come forward or may be missing. In doing so, the bank incurs liability in respect of the goods. Also, of course, it may involve loss of control of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=76&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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		<item>
		<title>Proforma Invoice</title>
		<link>http://tradeguide2u.wordpress.com/2008/05/12/proforma-invoice/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/05/12/proforma-invoice/#comments</comments>
		<pubDate>Mon, 12 May 2008 03:24:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[advance payment]]></category>
		<category><![CDATA[consignment]]></category>
		<category><![CDATA[proforma invoice]]></category>
		<category><![CDATA[tender]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/05/12/proforma-invoice/</guid>
		<description><![CDATA[Proforma Invoice is a form of quotation by the seller given to a potential buyer. It is identical to a commercial invoice in appearance except that words ‘Proforma Invoice’ prominently appear on it. Proforma invoice is used as an invitation to the buyer to place a firm order based on prices quoted in it. Many [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=75&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<item>
		<title>Nomination Without Obligation</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/28/nomination-without-obligation/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/28/nomination-without-obligation/#comments</comments>
		<pubDate>Mon, 28 Apr 2008 03:56:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[article 12]]></category>
		<category><![CDATA[article 6(b)]]></category>
		<category><![CDATA[LC]]></category>
		<category><![CDATA[negotiation]]></category>
		<category><![CDATA[ucp600]]></category>
		<category><![CDATA[without recourse]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/28/nomination-without-obligation/</guid>
		<description><![CDATA[The word ‘available’ as used in LC operations, ranks high on the list of terms that confuse exporters. An LC should clearly specify how it is available; by sight payment, deferred payment, acceptance or negotiation [article 6(b), UCP 600]. It is preferable for exporters that LCs be advised available with a local bank, or at [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=74&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">shana66</media:title>
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		<title>Transport Document</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/26/transport-document/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/26/transport-document/#comments</comments>
		<pubDate>Sat, 26 Apr 2008 02:08:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[consignee]]></category>
		<category><![CDATA[dispatch]]></category>
		<category><![CDATA[document]]></category>
		<category><![CDATA[expiry]]></category>
		<category><![CDATA[freight]]></category>
		<category><![CDATA[Incoterms]]></category>
		<category><![CDATA[issuance]]></category>
		<category><![CDATA[LC]]></category>
		<category><![CDATA[marks]]></category>
		<category><![CDATA[multimodal]]></category>
		<category><![CDATA[numbers]]></category>
		<category><![CDATA[on deck]]></category>
		<category><![CDATA[presentation]]></category>
		<category><![CDATA[shipper]]></category>
		<category><![CDATA[taking in charge]]></category>
		<category><![CDATA[transport]]></category>
		<category><![CDATA[vessel]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/26/transport-document/</guid>
		<description><![CDATA[Most of the discrepancies discovered in LC operations are associated with the transport document. It is largely because LC stipulates a type of document which is not appropriate to the mode or modes of carriage which will be used. Some traders, particularly new traders, are not well versed with what transport document to follow with [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=73&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">shana66</media:title>
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		<title>Scope of Cargo Insurance Coverage</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/26/scope-of-cargo-insurance-coverage/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/26/scope-of-cargo-insurance-coverage/#comments</comments>
		<pubDate>Sat, 26 Apr 2008 02:04:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[scope cargo insurance]]></category>
		<category><![CDATA[type of risks]]></category>
		<category><![CDATA[all risks]]></category>
		<category><![CDATA[AR]]></category>
		<category><![CDATA[cargo]]></category>
		<category><![CDATA[clause A]]></category>
		<category><![CDATA[clause B]]></category>
		<category><![CDATA[clause C]]></category>
		<category><![CDATA[FPA]]></category>
		<category><![CDATA[insurance]]></category>
		<category><![CDATA[scope]]></category>
		<category><![CDATA[SG policy]]></category>
		<category><![CDATA[WA]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/26/scope-of-cargo-insurance-coverage/</guid>
		<description><![CDATA[The type of coverage that the insured can obtain ranges from the minimum cover provided by the basic policy commonly termed as S.G. Policy (Ships and Goods Policy) to the maximum protection of “All risks whatsoever”. The S.G. Policy covers the loss or damage to goods (total or partial) arising from the perils of the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=72&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">shana66</media:title>
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		<title>Basic Principle of Cargo Insurance</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/26/basic-principle-of-cargo-insurance/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/26/basic-principle-of-cargo-insurance/#comments</comments>
		<pubDate>Sat, 26 Apr 2008 01:47:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[cargo insurance]]></category>
		<category><![CDATA[Incoterms]]></category>
		<category><![CDATA[principles]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/26/basic-principle-of-cargo-insurance/</guid>
		<description><![CDATA[Cargo insurance plays an important part in facilitating trade transactions. Through cargo insurance, the financial losses suffered by traders on account of damage to goods in transit resulting from various hazards such as fire, storm, collision, stranding, theft, sinking, explosions etc, are transferred to insurance underwriters. By providing protection cargo insurance enables all those engaged [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=71&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">shana66</media:title>
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		<title>Common Misinterpretation of C-Terms</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/23/common-misinterpretation-of-c-terms/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/23/common-misinterpretation-of-c-terms/#comments</comments>
		<pubDate>Wed, 23 Apr 2008 01:59:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/23/common-misinterpretation-of-c-terms/</guid>
		<description><![CDATA[C-terms or ‘Main carriage paid by the seller’ are terms frequently used by traders in trade. There are two groups of C-terms, one is intended to be used when the goods are carried by sea; CFR and CIF, the other group can be used for any mode of transport, including sea and multimodal transport; CPT [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=70&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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		<title>Trade terms: Point of delivery in the country of the buyer</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/21/trade-terms-point-of-delivery-in-the-country-of-the-buyer/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/21/trade-terms-point-of-delivery-in-the-country-of-the-buyer/#comments</comments>
		<pubDate>Mon, 21 Apr 2008 03:56:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/21/trade-terms-point-of-delivery-in-the-country-of-the-buyer/</guid>
		<description><![CDATA[As mentioned in the earlier post, there are various methods and ways of making a delivery. Besides making a delivery in the country of the seller, it can also be made in the country of the buyer. Generally speaking, the responsibility and obligation of the seller increased when delivery is to be made in the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=69&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<item>
		<title>Trade Terms: Points of delivery in the country of the seller</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/16/trade-terms-points-of-delivery-in-the-country-of-the-seller/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/16/trade-terms-points-of-delivery-in-the-country-of-the-seller/#comments</comments>
		<pubDate>Wed, 16 Apr 2008 02:44:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/16/trade-terms-points-of-delivery-in-the-country-of-the-seller/</guid>
		<description><![CDATA[One of the most important aspects of trade terms is point of delivery, that is the moment when the goods are either handed over to a carrier or place on board the collecting vehicle for onwards shipment to the buyer. As of this moment, the seller is said to have completed his obligation with regards [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=68&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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		<title>INCOTERMS</title>
		<link>http://tradeguide2u.wordpress.com/2008/04/07/incoterms/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/04/07/incoterms/#comments</comments>
		<pubDate>Mon, 07 Apr 2008 10:56:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/04/07/incoterms/</guid>
		<description><![CDATA[Once the LC is issued and received by the seller, the next event to take place is the movement of the goods. The seller is liable and responsible to ensure that the goods ordered by the buyer are delivered and received by the buyer at the agreed place and within the agreed time. The delivery [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=67&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>SWIFT Format: Field 78</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/24/swift-format-field-78/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/24/swift-format-field-78/#comments</comments>
		<pubDate>Sun, 24 Feb 2008 04:26:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/24/swift-format-field-78/</guid>
		<description><![CDATA[Field 78 (Instruction to the paying/accepting/negotiating bank) is an optional field where Issuing Bank will indicate instructions regarding sending of the documents, method of reimbursement and other related instructions such as: +AMOUNT OF NEGOTIATION MUST BE ENDORSED AGAINST THIS CREDIT +ALL DOCS TO BE AIR COURIERED IN ONE LOT TO ISSUING BANK, ZEALOT BANK LTD, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=66&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>SWIFT Format: Field 49</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/20/swift-format-field-49/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/20/swift-format-field-49/#comments</comments>
		<pubDate>Wed, 20 Feb 2008 06:02:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/20/swift-format-field-49/</guid>
		<description><![CDATA[Field 49 (Confirmation instruction) is a mandatory field. This field must present in every LC issued. This field contains instruction regarding confirmation of the LC where it must contain one of the following codes: 1. CONFIRM – The receiver is requested to confirm the LC2. MAY ADD – The receiver may add its confirmation to [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=65&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>SWIFT Format: Field 48</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/16/swift-format-field-48/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/16/swift-format-field-48/#comments</comments>
		<pubDate>Sat, 16 Feb 2008 07:33:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/16/swift-format-field-48/</guid>
		<description><![CDATA[Field 48(Period for presentation) is an optional field where the time limit within which the presentation of the shipping documents should be made to the issuing bank or nominated bank by or on behalf of the beneficiary/seller. As a general rule, this time period starts from the date of shipment which is indicated in the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=64&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>SWIFT Format: Field 71B</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/12/swift-format-field-71b/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/12/swift-format-field-71b/#comments</comments>
		<pubDate>Tue, 12 Feb 2008 08:54:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/12/swift-format-field-71b/</guid>
		<description><![CDATA[Field 71B (Charges) is also an optional field. This field is meant for the following charges: 1. Agent’s commission (AGENT)2. Commission (COMM)3. Our Correspondent’s commission (CORCOM)4. Commercial discount (DISC)5. Insurance premium (INSUR)6. Postage (POST)7. Stamp duty (STAMP)8. Teletransmisson charges (TELECHAR)9. Wharfing and warehouse (WAREHOUS) This field is accommodated for 35 characters (alpha numeric) per line [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=63&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>SWIFT Format: Field 47A</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/11/swift-format-field-47a/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/11/swift-format-field-47a/#comments</comments>
		<pubDate>Mon, 11 Feb 2008 08:18:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/11/swift-format-field-47a/</guid>
		<description><![CDATA[Field 47A (Additional conditions) is also another optional field. This field is normally used by issuing bank or the buyer to lay down other important instructions and requirements. This is where issuing bank indicates among others, discrepancy fee is charged for the account of the seller should there is any discrepancy in the presentation. Buyer [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=62&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>SWIFT Format: Field 46A</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/08/swift-format-field-46a/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/08/swift-format-field-46a/#comments</comments>
		<pubDate>Fri, 08 Feb 2008 07:10:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/08/swift-format-field-46a/</guid>
		<description><![CDATA[Field 46A (Documents required) is also another optional field. However, in most commercial LC, this field is always presents. This is where all the documents required pertaining to that particular trade described in the LC should be expressly indicated. This includes type of documents, number of copies as well as photocopy or original piece. As [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=61&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>SWIFT Format: Field 45A</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/07/swift-format-field-45a/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/07/swift-format-field-45a/#comments</comments>
		<pubDate>Thu, 07 Feb 2008 03:31:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/07/swift-format-field-45a/</guid>
		<description><![CDATA[Field 45A (Description of goods and/or services) is another optional field. However, in commercial LC, this field is always presents. This is where the goods purchased by the buyer are described as well as indication of trade term used. The description of goods should not be so excessive and complicated. Although this field provides 100 [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=60&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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		<title>SWIFT Format: Field 44C (Latest Date of Shipment)</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/06/swift-format-field-44c-latest-date-of-shipment/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/06/swift-format-field-44c-latest-date-of-shipment/#comments</comments>
		<pubDate>Wed, 06 Feb 2008 03:06:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/06/swift-format-field-44c-latest-date-of-shipment/</guid>
		<description><![CDATA[Field 44C (Latest date of shipment) is also another optional field. This field may or may not present. If it does not present, the shipment must be made within the validity of the LC. If this field present, the shipment must be made within the date indicated in this field. The date indicated in this [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=59&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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		<title>SWIFT Format: Field 44A (Place of taking in charge&#8230;)</title>
		<link>http://tradeguide2u.wordpress.com/2008/02/05/swift-format-field-44a-place-of-taking-in-charge/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/02/05/swift-format-field-44a-place-of-taking-in-charge/#comments</comments>
		<pubDate>Tue, 05 Feb 2008 07:33:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/02/05/swift-format-field-44a-place-of-taking-in-charge/</guid>
		<description><![CDATA[Field 44A (Place of taking in charge / dispatch from.. / Place of receipt) is an optional field. This is a field where a place or a point of handing over the goods to the carrier should be indicated. The place or point is depending on the trade terms used e.g. Ex-Work, FCA, FAS, FOB, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=58&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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		<title>LC SWIFT Format: Field 43T (Transshipment)</title>
		<link>http://tradeguide2u.wordpress.com/2008/01/20/lc-swift-format-field-43t-transshipment/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/01/20/lc-swift-format-field-43t-transshipment/#comments</comments>
		<pubDate>Sun, 20 Jan 2008 04:02:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/01/20/lc-swift-format-field-43t-transshipment/</guid>
		<description><![CDATA[Field 43T (Transshipment) is an optional field. It may present or it may not present. Transshipment is shipment of goods in a single journey, from the point of origin to the final destination using a combination of different mode of transport. Whether or not transshipment is to be allowed or permitted, it is largely depends [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=57&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>LC SWIFT Format: Field 43P (Partial Shipment)</title>
		<link>http://tradeguide2u.wordpress.com/2008/01/07/lc-swift-format-field-43p-partial-shipment/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/01/07/lc-swift-format-field-43p-partial-shipment/#comments</comments>
		<pubDate>Mon, 07 Jan 2008 01:22:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/01/07/lc-swift-format-field-43p-partial-shipment/</guid>
		<description><![CDATA[Field 43P (Partial Shipment) is an optional field. The presence of this field would depend on the trade agreement between buyer and seller. Partial shipment is, in simple words, delivery of an order in two or more consignments, if allowed and mutually agreed upon by both parties, buyer and seller. The seller has the advantage [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=56&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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		<title>LC SWIFT Format: Field 42C (Drafts at&#8230;)</title>
		<link>http://tradeguide2u.wordpress.com/2008/01/06/lc-swift-format-field-42c-drafts-at/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/01/06/lc-swift-format-field-42c-drafts-at/#comments</comments>
		<pubDate>Sun, 06 Jan 2008 02:23:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/01/06/lc-swift-format-field-42c-drafts-at/</guid>
		<description><![CDATA[Field 42C (Drafts at…) is an optional field which means it can present or it may not present depending on the availability of the credit, either by Payment, Acceptance, Deferred payment or Negotiation (Field 41a). Field 42C should present if the availability of the LC is made by Acceptance or Negotiation (Field 41a). On the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=55&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>LC SWIFT Format: Field 41D (Available with&#8230;by&#8230;)</title>
		<link>http://tradeguide2u.wordpress.com/2008/01/04/lc-swift-format-field-41d-available-withby/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/01/04/lc-swift-format-field-41d-available-withby/#comments</comments>
		<pubDate>Fri, 04 Jan 2008 11:05:00 +0000</pubDate>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/01/04/lc-swift-format-field-41d-available-withby/</guid>
		<description><![CDATA[Field 41D (Available with…by…) is a mandatory field which must present. ‘Available with’ refers to the bank which is a nominated bank, in the country of the seller, authorized by the issuing bank to make payment to the seller. The name of this bank must be expressly indicated either by indicating its’ Bank Identifier Code, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=54&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>LC SWIFT Format: Field 50, 59 and 32B</title>
		<link>http://tradeguide2u.wordpress.com/2008/01/02/lc-swift-format-field-50-59-and-32b/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/01/02/lc-swift-format-field-50-59-and-32b/#comments</comments>
		<pubDate>Wed, 02 Jan 2008 10:23:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/01/02/lc-swift-format-field-50-59-and-32b/</guid>
		<description><![CDATA[Field 50 (Applicant) is another mandatory field which requires bank to expressly indicate the name of the applicant or buyer together with the address. (Sample of LC issued: SWIFT Format). Field 59 (Beneficiary) is also a mandatory field where the the name of the buyer is to be indicated with full address. Field 32B (Currency [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=53&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>LC SWIFT Format: Field 31D (Date and Place of Expiry)</title>
		<link>http://tradeguide2u.wordpress.com/2008/01/01/lc-swift-format-field-31d-date-and-place-of-expiry/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/01/01/lc-swift-format-field-31d-date-and-place-of-expiry/#comments</comments>
		<pubDate>Tue, 01 Jan 2008 08:06:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/01/01/lc-swift-format-field-31d-date-and-place-of-expiry/</guid>
		<description><![CDATA[Next field is field 31D (Date and place of expiry). As I mentioned in the earlier post (SWIFT Format: part 3), the date format is written as yy/mm/dd. For example, the date is indicated as 070424, the date is read as April 24th, 2007. The additional information here is, the name of the country where [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=52&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>LC SWIFT Format: Field 40E (Applicable Rules)</title>
		<link>http://tradeguide2u.wordpress.com/2008/01/01/lc-swift-format-field-40e-applicable-rules/</link>
		<comments>http://tradeguide2u.wordpress.com/2008/01/01/lc-swift-format-field-40e-applicable-rules/#comments</comments>
		<pubDate>Tue, 01 Jan 2008 04:43:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2008/01/01/lc-swift-format-field-40e-applicable-rules/</guid>
		<description><![CDATA[The next mandatory field is field 40E (Applicable Rules) which must present in every LC issued. This field is customarily indicated by the issuing bank which corresponds to the type of the LC issued, either commercial LC or standby LC. This field must contain one of the following codes: EUCP LATEST VERSION – The documentary [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=51&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>LC SWIFT Format: Field 20 (Documentary Credit Number)</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/30/lc-swift-format-field-20-documentary-credit-number/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/30/lc-swift-format-field-20-documentary-credit-number/#comments</comments>
		<pubDate>Sun, 30 Dec 2007 04:48:00 +0000</pubDate>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/30/lc-swift-format-field-20-documentary-credit-number/</guid>
		<description><![CDATA[Next MT700/701 field is field 20, Documentary Credit Number. This field is a self explanatory field. Every LC issued by the issuing bank must bear an ‘identity’ which is recognizable by the LC number. This LC number is a unique number assigned to an LC where every LC issued bears a different LC number. LC [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=50&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>LC SWIFT Format: Field 40A (Form of Documentary Credit)</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/30/lc-swift-format-field-40a-form-of-documentary-credit/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/30/lc-swift-format-field-40a-form-of-documentary-credit/#comments</comments>
		<pubDate>Sat, 29 Dec 2007 16:20:00 +0000</pubDate>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/30/lc-swift-format-field-40a-form-of-documentary-credit/</guid>
		<description><![CDATA[The second field in MT700/701 is field 40A. This is also a mandatory field where it must present and must be expressly stated to indicate the form of the Documentary Credit or LC. This field must contain one of the following codes: IRREVOC TRANS STANDBY – The standby letter of credit is irrevocable and transferable [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=49&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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			<media:title type="html">shana66</media:title>
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		<title>LC SWIFT Format: Field 27 (Sequence of Total)</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/28/lc-swift-format-field-27-sequence-of-total/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/28/lc-swift-format-field-27-sequence-of-total/#comments</comments>
		<pubDate>Fri, 28 Dec 2007 14:36:00 +0000</pubDate>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/28/lc-swift-format-field-27-sequence-of-total/</guid>
		<description><![CDATA[As I mentioned in the previous post, LC is a message containing ‘to do list’, information, instruction which forms what is called terms and conditions. As LC is practiced worldwide, the terms and conditions expressly indicated must be arranged in a systematic order so as not to raise any misunderstanding and confusion. Therefore, they are [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=48&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Part Four: Sample of LC issued (SWIFT Format)</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/26/part-four-sample-of-lc-issued-swift-format/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/26/part-four-sample-of-lc-issued-swift-format/#comments</comments>
		<pubDate>Wed, 26 Dec 2007 09:50:00 +0000</pubDate>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/26/part-four-sample-of-lc-issued-swift-format/</guid>
		<description><![CDATA[27 : Sequence of Total1 / 1 40A : Form of Documentary Credit IRREVOCABLE 20 : Documentary Credit NumberLOC2897000203 31C : Date of Issue071015 40E : Applicable RulesUCPURR LATEST VERSION 31D : Date and Place of Expiry071114 UNITED KINGDOM 50 : ApplicantDAMAS ENTERTAINMENT LTDLOT 19 &#8211; 2 MEDAN SETIA SATUPLAZA DAMANSARA, BUKIT DAMANSARA50490 KUALA LUMPUR, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=47&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Part three: Responsibility of the issuing bank</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/24/part-three-responsibility-of-the-issuing-bank/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/24/part-three-responsibility-of-the-issuing-bank/#comments</comments>
		<pubDate>Mon, 24 Dec 2007 08:00:00 +0000</pubDate>
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		<description><![CDATA[The issuing bank, as mentioned in the previous post, is a bank which issues the LC at the request and on the instruction of the buyer. The issuing bank, in most cases is the bank of the buyer where he maintains banking relationships. Prior to giving the instruction to issue the LC, buyer and seller [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=46&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Part two: Letter of Credit defined</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/23/part-two-letter-of-credit-defined/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/23/part-two-letter-of-credit-defined/#comments</comments>
		<pubDate>Sun, 23 Dec 2007 12:27:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[irrevocable]]></category>
		<category><![CDATA[letter of credit]]></category>
		<category><![CDATA[ucp600]]></category>
		<category><![CDATA[undertaking]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/23/part-two-letter-of-credit-defined/</guid>
		<description><![CDATA[What is letter of credit? To understand what letter of credit is, we should first know the standard international rules that governed the operation of letter of credit which is known as Uniform Customs and Practice for Documentary Credits or in short, UCP. The current UCP is known as Uniform Customs and Practice for Documentary [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=45&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Understanding Letter of Credit for beginners (Part One)</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/22/understanding-letter-of-credit-for-beginners-part-one/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/22/understanding-letter-of-credit-for-beginners-part-one/#comments</comments>
		<pubDate>Sat, 22 Dec 2007 11:07:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/22/understanding-letter-of-credit-for-beginners-part-one/</guid>
		<description><![CDATA[In trade transaction, there are two main objectives to be achieved; consideration for payment and consideration for the goods. Buyer wants to be assured that he received his goods and on the other hand, the seller would like to ensure that he would receive the value for his goods. Let say, Sharif is a small [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=44&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://tradeguide2u.wordpress.com/2007/12/22/understanding-letter-of-credit-for-beginners-part-one/feed/</wfw:commentRss>
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		<title>Reasonableness of &#8216;reasonable time&#8217;</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/21/reasonableness-of-reasonable-time/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/21/reasonableness-of-reasonable-time/#comments</comments>
		<pubDate>Fri, 21 Dec 2007 10:37:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/21/reasonableness-of-reasonable-time/</guid>
		<description><![CDATA[Prior to the revision of article 13, UCP 500, the period within which the documents should be check for conformity by banks is set at maximum of 7 banking days. Banks, must exercise ‘reasonable care’ and take ‘reasonable time’ not to exceed the time limit given and provided for in the article. Effective July 2007, [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=43&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Collections: Documents Against Payment</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/16/collections-documents-against-payment/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/16/collections-documents-against-payment/#comments</comments>
		<pubDate>Sun, 16 Dec 2007 08:16:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
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		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/16/collections-documents-against-payment/</guid>
		<description><![CDATA[“Please advise what is the difference between L/C and D/P payment ? Thanks in advance”. A question received from Helen Jolee, China.LC, as we all know, is a written undertaking by the issuing bank to guarantee that the payment will be honoured upon presentation of documents and in compliance with the terms and conditions of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=42&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Presentation of documents</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/15/presentation-of-documents/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/15/presentation-of-documents/#comments</comments>
		<pubDate>Sat, 15 Dec 2007 01:14:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/15/presentation-of-documents/</guid>
		<description><![CDATA[A freely negotiable LC with the expiry date on the 01st of December, 2007. Beneficiary presents the documents to his bank in his country on 30th of November 2007. The documents are not negotiated but instead redirected to the issuing Bank by courier service and reached the issuing Bank on the 05th of December, 2007.Is [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=41&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Examination of documents under LC</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/13/examination-of-documents-under-lc/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/13/examination-of-documents-under-lc/#comments</comments>
		<pubDate>Thu, 13 Dec 2007 02:46:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/13/examination-of-documents-under-lc/</guid>
		<description><![CDATA[The principle of strict compliance is ruled by articles 14, 15 and 16 of the UCP 600. Article 14(a) obliges the bank to examine all documents stipulated in the credit to ascertain on the basis of the documents alone, whether or not they appear, on their face, to constitute a complying presentation. That is in [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=40&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Risks mitigation</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/12/risks-mitigation/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/12/risks-mitigation/#comments</comments>
		<pubDate>Wed, 12 Dec 2007 02:20:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/12/risks-mitigation/</guid>
		<description><![CDATA[The question arises why contract parties are willing to pay so much money for bank commissions instead of paying directly to the other contract party. To give an answer to this question, it is first necessary to take a look at the risks of worldwide trade today. Risks associated with trade “The truth is that [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=39&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Italian court decision: Strict compliance</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/11/italian-court-decision-strict-compliance/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/11/italian-court-decision-strict-compliance/#comments</comments>
		<pubDate>Tue, 11 Dec 2007 03:30:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/11/italian-court-decision-strict-compliance/</guid>
		<description><![CDATA[In general, the Italian approach of “facial” compliance obliges the bank to check the documents only externally to determine whether they comply with the terms and conditions expressed in the credit. The documents may be accepted legitimately if the bank determines that any formal discrepancies are irrelevant to the validity of the credit. Additionally, the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=38&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<title>Problem concerning &#8216;strict compliance&#8217;</title>
		<link>http://tradeguide2u.wordpress.com/2007/12/10/problem-concerning-strict-compliance/</link>
		<comments>http://tradeguide2u.wordpress.com/2007/12/10/problem-concerning-strict-compliance/#comments</comments>
		<pubDate>Mon, 10 Dec 2007 12:12:00 +0000</pubDate>
		<dc:creator>shana66</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://tradeguide2u.wordpress.com/2007/12/10/problem-concerning-strict-compliance/</guid>
		<description><![CDATA[Literal compliance Literal compliance generally means that the terms and conditions of the letter of credit must be fulfilled “literal” letter by letter. The bank is obliged to act within the frontiers of the given, formal and precise banking commission because the underlying sale contract between applicant and beneficiary lies outside knowledge and judgement of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=tradeguide2u.wordpress.com&amp;blog=3883917&amp;post=37&amp;subd=tradeguide2u&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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