Trade Samaritan

ICC is headquartered in Paris and Harold McGraw III is the Chairman of ICC. Today ICC has thousands of member companies and associations from over 130 countries.

Incoterm minimizes the risk of dispute arising in the sales contract. We have discussed DAT and DAP in Part I now let us discuss the balance incoterms which are a part of both Incoterms 2000 and Incoterms 2010.

Incoterms are a set of three-letter standard trade terms commonly used in international contracts for the sale of merchandise.

An understanding of the most common discrepancies that banks find in examining documentary credit (DC) presentations can instruct the exporters and help them avoid the common rejections.

A letter of credit is a document issued by a financial institution, or a similar party, assuring payment to a seller of goods and/or services provided certain documents have been presented to the bank.