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The letter of credit (“L/C”) is an important tool for settlement of international trade transactions, however many Canadian businesses may be unfamiliar with this payment instrument and its benefits. The applicable rules for letters of credit (“L/Cs”) are the UCP 600 (Uniform Customs and Practice for Documentary Credits, ICC Publication No. 600), which apply to …
International payment – Letter of Credit support and assistance service Read More »
The COVID-19 pandemic has had a significant impact on global supply chains, upending trade, and slowing growth. Due to the pandemic, China, known as the ‘factory of the world’ shut factories and production lines, battering supply chains. This created a domino effect with businesses struggling to finish products and source raw inputs. Moreover, the US-China trade war was already …
The exciting part of international business and trade, some will suggest, is in the development and entry into new markets, in the enrichment that comes from experiencing different cultures and navigating the challenges of doing business in new environments. Certainly not in the area of finance! The reality is however, that you can get everything …
The impact of trade finance on your international business and supply chain Read More »