InTraders Uluslararası Ticaret Dergisi

Yazarlar: Yurdagül MERAL

Konular:İşletme

Anahtar Kelimeler:Import Export Management,International Trade Finance,Confirmed Letter of Credit,ICC,ICC

Özet: The purpose of this study is to examine the confirmed letters of credit, which are used in international trade finance and are subject to international rules. In short, letters of credit can be defined as a conditional payment order issued by a bank and guarantees payment if the terms of the letter of credit are complied with and the required documents in compliance with are submitted. In this method, if the letter of credit is confirmed there are two separate banks, issuing bank and the confirming bank which provide payment security to the exporter/seller. In order to avoid country risk and the issuing bank risk, a bank usually in exporter’s country becomes the confirming bank by adding its confirmation to the letter of credit, in this case, there are two banks providing payment security to the exporter/seller. This method is accepted as the safest payment method for the exporter. As a result, in order to prevent problems such as non-payment or delayed payment for the exporter / seller and avoiding non-delivery or late delivery of the goods for the importer / seller, first of all the transportation documents and insurance policy should be issued in the name of the bank and full set of transportation documents and insurance policy must be delivered to the banks and not sent the importer with the goods. 

---