Field 47A (Additional Conditions) in Letter of Credit (L/C)

Field 47A in LC

This is an optional field in MT700 type SWIFT message of a documentary Letter of Credit (L/C). These are the conditions which are added by the buyer/applicant or the issuing bank providing further instructions to comply. Additional conditions include the information should be mentioned in commercial documents (commercial invoice, packing list), email or fax instruction, … Read more Field 47A (Additional Conditions) in Letter of Credit (L/C)

Field 46A (Documents Required) in Letter of Credit (L/C)

field 46A in letter of credit

46A (Documents Required) is an optional field in MT700 type SWIFT message of a Letter of Credit (L/C). Here the list of documents is mentioned which to be presented. Under this field, the description of the required documents is described serially. Why F46A is not mandatory? In most of the commercial L/C, this field is … Read more Field 46A (Documents Required) in Letter of Credit (L/C)

Field 41D and 41A (Available With… By…) in Letter of Credit (LC)

Field 41D in Letter of credit

You must be familiar with this field as because it’s mandatory in Letter of Credit MT700 Swift message. Available With… It indicates the bank for the presentation of documents. So the beneficiary identifies where the credit will be available upon presentation. There are two formats: 41A –¬†This is mentioned where the nominated bank is identified … Read more Field 41D and 41A (Available With… By…) in Letter of Credit (LC)

Difference Between International Purchasing And Global Sourcing

A number of people even today think that global procurement and international procurement are often the same, but they are stark different from one another. Before entering into the realm of sourcing services; you need to understand the difference between global and international in general order. To explain it correctly, the term ‘Global‘ refers to … Read more Difference Between International Purchasing And Global Sourcing

Supplier Capability Assessment

Supplier Capability Assessment

If you want to measure supplier performance either in pre or post purchase, you have to consider some criteria. You can then give a weighted score during the evaluation period. Here I only list the assessment points during supplier capability measurement. Quality capacity assessment Mission vision Investment in R&D Intellectual property Suppliers personnel Manufacturing capability … Read more Supplier Capability Assessment

10 Thumbrules for Effective Negotiation Skills

effective negotiation skills

1. Don’t negotiate You may surprise to hear that while negotiation you should reminder in your mind this word “don’t negotiate”. Then what should you do? You should try to achieve your objectives that you’ve prepared before start negotiation. These thumb rules proven successfully for effective negotiation. If you start negotiation it may sound like … Read more 10 Thumbrules for Effective Negotiation Skills

Top Tips and Things to Avoid When Trading Online

Online trading

Online trading has become one of the most popular ways for countless individuals to accrue a supplemental income during their spare time. However, fortunes will not be made overnight. In order to enjoy success, it is critical to embrace the proper strategies while simultaneously avoiding the pitfalls that have brought down many would-be successful investors. … Read more Top Tips and Things to Avoid When Trading Online