The Drip Capital Blog
Insights on finance, working capital, and the realities of international trade: exports, imports, shipping, logistics, and customs clearance.
Resource Library
What is EORI Number? Complete Guide with EORI Meaning and Full Form
Earlier, businesses required a customs number to carry out customs activities related to importing and exporting of goods in the European Union (EU) the United Kingdom (UK). However, this was replaced by the Economic Operators Registration and Identification (EORI) number in 1 July 2009.
Red Clause Letter of Credit - Meaning of Red Clause LC, Example & Types
A standard letter of credit (LC) is a documented promise from the buyer to the seller regarding future payments on the purchased goods. Adding a red clause into an LC enables sellers to receive advance payments from buyers to cover manufacturing, packaging, dispatching, and shipment expenses.
What is Full Container Load (FCL) ? FCL Meaning And Process
Ocean freight can carry enormous loads of cargo over long distances and covers over 90% of all goods transport because it is more reliable.
Trade Credit Insurance (TCI) - Meaning, Coverage, Policy & Types
Trade credit insurance is an exclusive insurance policy designed to protect businesses from non-payment of commercial debt. It is a reimbursement guarantee provided for firms if the buyer fails to pay within the agreed credit period.
The US Ex-Im Bank - Meaning, Functions And Types of Services
The US Ex-Im Bank, also known as the EXIM Bank, is the official US credit agency that assists the finance and facilitates export and import in the US.It is driven by the goal of fostering international trade by financing import and export operations.
Commerce Control List (CCL): Meaning, Item List, and More
The Commerce Control List is a list of items that require an export license from the US Department of Commerce while moving out of the country, as per the Export Administration Regulation (EAR). The list classifies software, commodities, and technologies into 10 categories—each of which is further divided into 5 groups.
What is a Back to Back Letter of Credit (LC) in Import-Export
When a transaction takes place between a buyer and a seller keeping an intermediary in the loop, the type of LC used in such cases is known as 'Back to Back letter of credit'. In this article get a complete understanding of what is a Back to Back LC, how it works with an example, its format, terms & conditions and associated risks.
Documentary Collection Process In International Trade
Documentary collection is a type of trade financing in which an exporter receives payment for his goods from an importer after the financial institutions of the parties involved exchange the relevant documentation.