Commercial Collections Blog

Watch for Verbiage Consistency when Exporting

When involved in exporting, if the documents presented do not conform to the terms of the letter of credit, you may not get paid.

It is essential that you ensure there are no discrepancies between all export documents and the letter of credit.  Watch for even small details, such as spelling.  Find out how long shipping will take, then add 21 days to this date to present the documents.  In addition, you need to know the details of the International Commercial Term, as defined by the U.S. Chamber of Commerce.

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