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Summary of today's "Economic World" editorial: the Aptcon of foreign trade; The first one, how to make the export and import safe for the buyer and the seller? Dr. Daoud Daneshjafri; a member of the academic faculty of Alma Tabatabai University Foreign trade needs tools to make sure that the exporter receives money and the importer takes care of the supply of the goods. One of the most well-known of these tools is the "Letter of Credit" or LC; A process in which the buyer's bank undertakes to pay the exporter the transaction amount in exchange for receiving documents in accordance with the contract (such as invoices, shipping documents and inspection certificates), and the seller relies on the bank's commitment instead of relying on the buyer. The LC execution process includes the agreement of the parties, opening of credit at the buyer's bank, notification to the exporter, delivery of goods and presentation of documents, verification of compliance with documents by the banks and finally payment and delivery of documents. However, LC does not eliminate all risks and risks such as forgery of documents, quality differences, currency restrictions and changes in regulations still exist. The use of letters of credit to Iran depends on access to reliable foreign banks, intermediary relationships and the real possibility of transferring money; In embargo situations, if the foreign bank does not have the ability or authorization to pay, the mere use of the LC title does not guarantee the transaction. Therefore, the development of Iran's foreign trade requires the strengthening of brokerage relationships, the use of export credit insurance, independent inspection of goods, training of companies and detailed regulation of contracts in order to create a solid foundation for safe trade in applicable ways. the channel.

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روزنامه دنیای اقتصاد · · Source

🇮🇷 Iran · Map

Summary of today's "Economic World" editorial: the Aptcon of foreign trade; The first one, how to make the export and import safe for the buyer and the seller? Dr. Daoud Daneshjafri; a member of the academic faculty of Alma Tabatabai University Foreign trade needs tools to make sure that the exporter receives money and the importer takes care of the supply of the goods. One of the most well-known of these tools is the "Letter of Credit" or LC; A process in which the buyer's bank undertakes to pay the exporter the transaction amount in exchange for receiving documents in accordance with the contract (such as invoices, shipping documents and inspection certificates), and the seller relies on the bank's commitment instead of relying on the buyer. The LC execution process includes the agreement of the parties, opening of credit at the buyer's bank, notification to the exporter, delivery of goods and presentation of documents, verification of compliance with documents by the banks and finally payment and delivery of documents. However, LC does not eliminate all risks and risks such as forgery of documents, quality differences, currency restrictions and changes in regulations still exist. The use of letters of credit to Iran depends on access to reliable foreign banks, intermediary relationships and the real possibility of transferring money; In embargo situations, if the foreign bank does not have the ability or authorization to pay, the mere use of the LC title does not guarantee the transaction. Therefore, the development of Iran's foreign trade requires the strengthening of brokerage relationships, the use of export credit insurance, independent inspection of goods, training of companies and detailed regulation of contracts in order to create a solid foundation for safe trade in applicable ways. the channel.

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