A method of payment under which the shipping documents relating to a particular cargo are released to the importer on payment (documents against payment D/) or acceptance (documents against acceptance D/A) of a documentary draft drawn on him by the…
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Documentary credit means the same thing than “letter of credit”. Traders and bankers in some parts of the world (US, Asia) tend to use the term “letter of credit” or the abbreviation “L/C”, while some bankers (in Europe) prefer to…
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The formal list and description of documents (primarily shipping documents) a buyer requires of the seller, especially in a documentary letter of credit.
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