A letter of credit is the commitment of payment by presenting a certain amount of money in return for the goods, with the instruction given by the importer to his bank. The letter of credit, which is also accepted as a financial guarantee, is very reliable because the payment is under the bank’s promise. Letter of credit has different types, and it is highly preferred in international trade.
AEO, known as the Authorized Economic Operator, is accepted among the persons fulfilling the customs obligations. AEO holders with a traceable recording system gain the following advantages.
- Priority right at border crossings
- Partial guarantee applications
- Privileges in contracting countries
- Priority in document controls
- Competitive advantage in international markets
- Green line application right
- Former statement procedure right
Akreditif, ithalatçının bankasına verdiği talimat ile mallara karşılık belirli oranda paranın ibraz edilmesi ile ödemenin taahhüt altına alınmasıdır. Mali güvence olarak da kabul edilen akreditif, ödemenin banka garantisinde olması nedeniyle oldukça güvenilirdir. Farklı türleri bulunan akreditif uluslararası ticarette çok tercih edilmektedir.
- Right to declare with missing documents
- Right to benefit from a lump sum guarantee
- Right to benefit from reduced coverage
- Customs clearance right on the vehicle regardless of the quality of the goods.
- The right to issue and visa A.TR in consolidated transactions
- The right to benefit from the blue line within the scope of 1000 regime code export declarations
The ‘International Commercial Terms’ regulated by the International Chamber of Commerce (ICC) is the framework that draws the responsibilities related to delivering the goods. Incoterms, which were first published in 1936, has changed in various periods. The most current Incoterms are:
- EXW – Ex Works
- FCA – Free Carrier
- CPT – Carriage Paid To
- CIP – Carriage and Insurance Paid To
- DAT – Delivered at Terminal
- DAP – Delivered at Place
- DDP – Delivered Duty Paid
- FOB – Free on Board
- CFR – Cost and Freight
- CIF – Cost, Insurance and Freight
They are the methods used by the parties to pay for goods/products during import and export transactions. At this point, you can use the following methods available in the application:
- Advance Payment
- Payment Against Goods
- Payment Against Documentation
- Acceptance Credit Payment
- Letter of Credit Payment