In the dynamic world of international trade, businesses often encounter the need for advance payments as part of their transactions. Understanding the nuances of advance payments is crucial for both buyers and sellers to navigate the complexities of global commerce successfully. This post aims to shed light on advance payments in trade, covering key concepts, … Read more
Practice makes a man perfect. So let’s solve some CDCS sample questions. These CDCS practice questions are not an actual representation of questions that will be asked in the CDCS exam. However these will help you to test your understanding of the concepts learned. For your convenience, at the top of the post, we have … Read more
In this post we’ll discuss Incoterms 2020 for CDCS exam in simple words. Incoterms 2020 is published by International Chamber of Commerce (ICC). What are Incoterms? Incoterms stands for International Commercial Terms. These are a set of standard rules which defines the rights and responsibilities of importer and exporter in a trade transaction. The latest … Read more
In this post we are going to discuss about the words Must, May and Should in UCP 600. This is an interesting aspect of UCP 600, the rules that govern issuances of letters of credit, all over the world. We’ll not discuss any specific topic or any article. Rather, this topic is about the UCP … Read more
UCP 600 stands for “Uniform Customs and Practice for Documentary Credits, 600.” It is a set of rules published by the International Chamber of Commerce (ICC) that govern the use of documentary credits in international trade. A documentary credit or a letter of credit is a financial instrument that acts as a guarantee of payment … Read more
In this post, we’ll discuss about various SWIFT message types relevant for CDCS Exam. Proper understanding of the various message types used in the letter of credit mechanism will help you to understand the letter of credit mechanism in a better way. What is SWIFT? SWIFT is a messaging platform using which banks exchange information … Read more
