The Drip Capital Blog
Insights on finance, working capital, and the realities of international trade: exports, imports, shipping, logistics, and customs clearance.
Resource Library
Irrevocable Letter of Credit | What is it & How does it work
An ILOC gives the seller a guarantee that he/she will receive the fixed amount due, and also by the right time from the buyer. An ILOC provides added risk protection for the seller by promising a guarantee from both the buyer's and the seller's bank.
USMCA | What Is The New Agreement & Does It Replace NAFTA?
The United States-Mexico-Canada Agreement (USMCA) was established on September 30, 2018, as the successor to the 25-year-old North American Free Trade Agreement (NAFTA). It is the continuation of a structured free market trade among the member nations and aims to reduce the cost and increase predictability for cross-border business transactions.
ATA Carnet | What Is It & How Does It Work In Carnet Shipments
An ATA Carnet, also known as Merchandise Passport or Passport for Goods is an international customs document. It allows an individual traveler/ business owner to temporarily export or import goods for commercial purposes to and from a country.
U.S. Customs and Border Protection (CBP) | Role And Responsibilities
CBP deals with customs, immigration, trade, agricultural protection and border security, including counterterrorism. The organization is entrusted with the responsibility of facilitating international trade and travel and also regulating the movement of people and all goods shipped to the US.
CBP Form 7501 Entry Summary - A Vital Import Document For US
The CBP Form 7501, also known as “Entry Summary”, is a mandatory document that must be submitted upon the arrival of goods into the United States.The form provides details of appraisement, origin, and classification, among other key bits of information.
Who is A Customs Broker, What Does He/She Do & Why do you need One?
A customs broker is a private individual, an entity, or a corporation licensed to assist international traders in complying with all the federal laws, rules, and regulations related to the import and export process.
Agricultural Commodities | Commodity Market, Prices, Trends & more
The current price spikes witnessed across various agro commodities are a combination of diverse factors. As per Drip Capital’s internal analysis, the covid induced unpredictability, along with constantly rising demand and speculations around the supply of primary goods, is the triad responsible for the volatile prices seen across staple agricultural commodities.
Transferable Letter of Credit (LC) | The Complete Flow Chart
A transferable letter of credit (LC) is a credit facility that the first beneficiary can transfer to another party or the second beneficiary. Such a financial guarantee is applicable when the sellers of goods are agents/dealers and are not the suppliers or manufacturers themselves.