The role of blockchain technology in the logistic industry
Blockchain is one of the most progressive technological trends in recent years. The reason for this popularity is the development of cryptocurrencies. But it would […]
Field 59 Beneficiary in Letter of Credit (LC)
F59: Beneficiary is a mandatory field in MT700 SWIFT message. This field specifies the party on which favor the LC is issued. Like the Applicant in the […]
MT700 SWIFT Message in Documentary Credit
SWIFT is a secure message platform used by banks. There are various types of SWIFT messages used in different cases. Here we are discussing MT700 […]
LCAF (Letter of Credit Authorization Form)
LCAF form is a Letter of Credit Authorization Form. It is used to allow opening LC (Letter of Credit) to import from abroad. Though LCAF […]
Activities of the Value Chain Explained
The creation of a product or service involves a full range of activities or steps between conception and distribution. This includes raw materials procurement and […]
Why Achieving Strategic Fit through the Supply Chain is Important
Every business in the contemporary globalized marketplace wants to achieve a competitive advantage to stay in business longer. But it is not all businesses that […]
F71D (Charges) in Letter of Credit
F71D (Charges) is an optional field in the MT700 type SWIFT message. This field specifies the charges borne by the beneficiary. Actually, it mentions who […]
Field 50 Applicant in Letter of Credit (LC)
F50: Applicant is a mandatory field in MT700 SWIFT message. This field specifies the party on which request the LC is issued. Actually, the buyer/importer’s […]
Proforma Invoice in the LC
Proforma Invoice (PI) is a must document for Letter of Credit. This document provides information regarding goods/services quantity, price, delivery, buyer and seller information, and […]
How to Optimize Your Procurement Process
An effective organization has, among others, an efficient procurement process at the core. An optimized procurement strategy has a positive domino effect throughout the organization, […]
