Letter Of Credit Sample Form: Fill & Download for Free


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How to add a signature on your Letter Of Credit Sample Form

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PDF Editor FAQ

How can one import products from China to India via Alibaba? What are the legal proceedings involved? Is there any need for licensing? How does the product get delivered?

You need to register your account on Alibaba. After account registration you can search your product and each product has many supplier on Alibaba. Then choose a supplier who gives you supply of products with best price offer and reliable too (since in many case there are many fake suppliers from china also registered on Alibaba).You can contact any buyer for cost of the product and various kinds of details about the product. If you want to buy product then you can negotiate with the supplier. Supplier quotes you the price according to its quantity. If you can convince supplier to large order in future, you can get samples at very cheap price.It is suggested to ask for sample product to check the quality, buyer can send you the product sample by courier. Check the sample and then decide about your products. If you are lucky then you can find the same supplier registered on Aliexpress.com (But not all, only a small percentage). It is easier to get samples from http://www.aliexpress.com. However it is good idea to contact supplier on http://www.alibaba.com itself as you can get sample cheaper, using an Import/Export agent. This will also help you build communication with supplier.You must have IEC code to import on your own name. Otherwise you can place Drop shipping order to some trader. to know what is IEC and how to obtain it, check the answer to question, What is import and export code?Air vs Sea. If cargo is small and valuable then air should be used. For bulky and durable cargo shipping via sea will be suitable. If your cargo is only a fraction of cubic meters then Sea route is not an option, Sea route is suitable for durable goods to same money. Smaller shippmnets via sea route are called LCL, these shipments are combined with other shipments.Payment, for payments use letter of credit for payment. This will make sure banks are involved in payment. Never trust a supplier. A single bad shipment can ruin a buisness. Check what is letter of credit here, What is a letter of credit?

I want to buy products from Alibaba and sell them from South India. How do I do it? How can I tell which sellers are reliable? What is the most reliable payment method that will not attract any legal issues? What are the documents/licenses needed?

There are not of people who taking products from Alibaba & selling here in India ,for this find gold supplier on Alibaba .Ask the seller for samples for this you have to pay shipping charge.If you like the product you can give your order to seller & do remember to bargain with seller then after placing order the seller ships at your place .You have to check if the courier he is using is available at your place.Also you should have licience for importing goods.Also the safest mode of payment is Via Alibaba or by using Letter of Credit via your bank.Letter of credit is an agreement which your local bank does it with sellerIt's the responsibility of bank to release the payment when seller notifies the bank that he ships the order to buyer.

What is a draft bill of lading?

A2A.What is a Draft BL?In simple, a draft *BL is a preliminary version (Rough outline) of an actual BL, Normally the BL is prepared at the Place of Origin that is from where the cargo is exported.It is prepared by the liner (Vessel) or the *FF. A typical draft BL contains the cargo details like type, dimension, weight, charges (as agreed), consignee and consignor name, *POO, *POL, Port of Discharge etc. It also includes the *LC details if there is one involved.Now to the use of Draft BL.The name itself says that it is just a rough document and it can be edited in any way the customer want. It is used as a sample to confirm the actual BL. Once the draft is made it will be sent to the customer for their confirmation.The seller checks the draft details and once he is satisfied with the draft, he confirms it and then the Actual BL is prepared.Once the actual BL is prepared it will carry a unique code which can be used anywhere in the world to track the cargo and its details.So from here (after preparing the actual BL) if any change has to be done it’ll charged to the customer it also includes spelling mistakes.Types of BL.Master BL and House BL:Master BL is prepared by Liner in behalf of the Ship owner.House BL is prepared by FFAbbreviations:*BL - Bill of Lading | *FF - Freight Forwarders | *POO - Port of Origin*POL - Port of Loading | *LC - Letter of Credit [1][1][1][1]Hope its helpful. Thanks for reading.Footnotes[1] A Quick Guide to Understanding Letters of Credit[1] A Quick Guide to Understanding Letters of Credit[1] A Quick Guide to Understanding Letters of Credit[1] A Quick Guide to Understanding Letters of Credit

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