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 […]
Purchase & Procurement
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
A Proforma Invoice (PI) is a must document for a Letter of Credit. This document provides information regarding goods/services quantity, price, delivery, buyer and seller […]
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, […]
UPAS (Usance Payable at Sight) LC explained
When it comes to the discussion of the letter of credit, then obviously you have to know about UPAS LC. This is a solution for […]
7 Supply Chain Outsourcing Strategies That Will Triple Your Revenue
Logistics and supply chain is one of the most challenging concepts for eCommerce businesses. Due to the increasing global demand for procurement, manufacturing, logistics, and […]
Field 39A Percentage Credit Amount Tolerance in Letter of Credit (LC)
Field 39A is the percentage credit amount tolerance mentioned in the MT700 SWIFT message of the Documentary Letter of Credit. The tolerance is for both […]
Field 48 (‘Period for presentation in days’) in Letter of Credit (L/C)
F48 is an optional field in MT700 swift message of Documentary letter of credit. F48 (Period of Presentation) field defines the period of time in […]
Field 57A (‘Advise Through’ Bank) in Letter of Credit (L/C)
Previously I’ve discussed important fields present in a Letter of Credit (i.e F46A Required Documents, F47A Additional Documents, etc.). Here we will discuss Field F57A […]