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.
APSC is a document known as the Approved Person Status Certificate and provides severe convenience in customs processes. Here are the advantages this document offers in order to get fast and high-quality results in customs procedures:
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:
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: