March 2019
Intermediate to advanced
636 pages
27h 50m
English
The risks inherent in transferring goods or making payments in the absence of safeguards (such as a trusted mediator) inspired the involvement of banks and led to the creation of the letter of credit and bill of lading. A consequence of these processes was not just additional cost (banks charge commission to issue letters of credit) or additional overhead. Applying and waiting for export licenses to be awarded also increases the turnaround time. In an ideal trade scenario, only the process of preparing and shipping the goods would take time. Recently, the adoption of SWIFT messaging over manual communication has made the document application and collection processes more ...
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