Letter of Credit (L/C) Process! Explained L/C transaction process with Flow Chart.
Вставка
- Опубліковано 2 жов 2024
- No.1 International Trade & Logistics E-Learning
"TRADE CAMP" - trade-camp.com/
Letter of Credit(L/C) is one of the most important transaction method for global business. It's very important to understand the L/C transaction process. In this video, I explained each process with animation and flow chart.
00:00
00:11 What is L/C?
00:31 First time deal risk
01:15 Advantage for exporters
01:45 Advantage for importers
02:11 Key Bank role
02:57 L/C transaction process
06:16 L/C process with flow chart
07:22 Summary
■●■●■●■●■●■●■●■●
★Contact to IINO san★
-----------------------------------------
Facebook Page
/ iinosaan
Linked In Message
/ shinya-iino
Twitter DM
/ iino_saan
-----------------------------------------
★Logistics Manual for Beginners★
forwarder-unive...
** All videos and text explanation are in this page **
・Forwarder University - Logistics Blog
forwarder-unive...
・Instagram - Logistics can be art
/ iino_san_logistics
・Company Website
www.hps-trade.c...
【Profile】
Shinya Iino
15 years experience in business development in Asia and South East Asia. Marketing and Sales specialist in especially Logistics field.
Over 5,000 TEU Monthly volume for export and import in our Group company in Thailand.
・Established Forwarding Company in Thailand.
・Achieved THB 7.5 million ordinary income in the first year.
・Management and Training Thai staffs with Japanese hospitality style.
・Strong communication skill with Japanese, English and Thai language.
・Succeed in expanding our business to the total logistics provider.
This is so easy to understand, thank you so much for your immerse efforts
Thank you!
@@logisticsyoutuberiinosan2358 pp比皆日拍手捧qqqp手機a
Very helpful, thank for your video
that was so helpful! thank you.
There had been so many types of scammers until, bank facility need to increase and LC usage need to be expanded from logistics to renovation industry.
Possible future (due to people running away)
= Buy goods under LC
= Repayment, progressive 5, with 5 counter-part LC.
== 4 goes to supplier, 1 goes to renovation-contractor
= all paper-trail and taxed with accounting-book-keeping without government creating computer problem and blame business for wrong data-entry.
Same culprits. Bokerage-commission U-turn(spread) themselves(troublemakers)
A well-made, informative video thank you much. One quick question, when do importer bank make the payment to exporter bank? Is it when they (importer bank) receive documentary bill includibg B/L from exporter bank?
The music is so annoying and disturbing
Clear Video -
If you want to learn this content more clearly, please check this link.
trade-camp.com/
Thank you for your simplified quick explanation of LC. I have a question ; who is responsible to check whether the goods meet the required specifications or not? And is that being done before shipping or after reaching the importer's country?
it is between exporter and importer issue to check the good spec is match as its specification.
Great informative video, thank you
HUMID SEAL MEANS? ON LC TERMS
Very well explained..your animation and concise explanation are top-notch👍 I enjoyed watching it from Korea, thanks!
Thank you from Korea😄 This L/C content is quite useful, I believe.
Excellent nice explanations about LC😊
I also pay attention to the the reimbursing bank, if the issuing bank fails to conduct payment to advising bank. The reimbursing bank will act to finance. Cmiiw!
👍
Thank you very much
Very interesting way of explaining LC, clear and easy to understand. Thank you so much. I needed it so much.
It's my pleasure😆
Very helpful! Thanks!
Thank you so much
When can i apply for LC before shipment or after shipment
before shipment
Sir plz explain about lorry receipt
Payment
lorry.. sorry.. I'm not familiar with it..
thanks it is helpful but why does the bank purchase bill of lading
because B/L has a function like money.
What kind of the application to make this animation?
VYOND.
We are making a huge work for understanding about logistics process ♥️❤️♥️
Thank you😆
Do we need to actually issue "Clean on Board B/L" if the LC states so?
sorry for my late reply. I don't understand what Clean on B/L..
thank you
i have a question which is once the exporter bank purchase documentary bill from exporter and send it to the importer bank then importer bank will make payment to the exporter bank after receiving the documents ?
Dear sir, could you share the difference between Forwarder, Shipping and container line
Good idea for making video😆
well explained, thank you.
You are welcome😄
Thank you, but there're alot of abbreviations that need to be explained
Very informative and straightforward approach. Btw i am from Malaysia and i am sorry that you got cheated by a malaysian company.
cheated?
Lol, me too, i feel the same😅
Please can you tell me what’s the difference between L/C and bill of exchange 😭 I’m so confused
Thank you, very well explained.
Just a quick question. As you said in your previous video that vessel delay is pretty normal. Due to port congestions or what not, shipping line vessel delay and the information (eg. ETA/ETD of vessel from port of load) in the L/C will have some discrepancy.
What will happen then?
Yes. It's getting more delay because of port congestions. Normally, shipping line will omit some ports to cover the schedule but in this situation, I cannot guess.. sorry..
Usually theres no discrepancies with LC if shipping liner can provide vessel delayed certificate due to BL sob date is as follow to vessel etd@atd to avoid back dated BL.
p/s: just from my experience from working in shiiping liner company✌🏻
@@yayaemira4535 Standard clause of LC contains latest date of shipment instead of ETA/ETD. In case of delay, wouldn't a simple L/C amendment resolve this issue?
@@maazamir1826 ya you can also do the lc amendment if not incur charges with bank.. usually shipper dont want to amend the lc due to involve a penalty from bank charges..
@@yayaemira4535 Agreed
it is so helpful fr us
keep going we will support you
Thank you!
P
P
Thanks so much for your video and explanation.
You are welcome!
Thank you for sharing, to help others is to help yourself.
It's my pleasure😄
Thank you so much..
I Love this video 😀👍👍
Thank you too!
very nice information for me that start to study export
Thanks! Cheer up for your study😆
Is it same as Cash against documents (CAD)?
NO. L/C is not the same as CAD.
Very good information. Thanks for sharing
thank you for making these videos
You are welcome😆
Good guidance sir thank u
You are welcome, Aaron san😆
Finally!!
Yeah😁
Thank you for the video. After all the reading, this is way better
Very helpful video.
Very helpful 👍 thanks a ton
Thank you.you are amazing lecturer.
It's my pleasure😁
D/o means what
Delivery Order. Google will teach you fast.
thank you so much
You are welcome😄
Thanks
You are welcome😆
Very interesting and easy to understand
Thank you
You are welcome😄
Good and well done
very helpful
my pleasure!
Thank you!
you are welcome😆
Very helpful🙏🏻
My pleasure😆
Very easy-understand illustration I never seen before .... like it a lot Thank you
My pleasure😁
Fantastic vid👍🏻
Thanks!!
Yes very good
Is a Letter of Credit the same as a Documentary Credit?
not the same. Documentary Credit is the part of Letter of Credit. Better to ask Bank people.
Awesome
Welcome!
thanks
You are welcome!
Easy to understand, thank you
You are welcome!
P
Great teaching
Great job ..! keep it up and good luck..!
Thank you! I will try😁