Full set clean on board Marine/Ocean Bill of Lading
Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
09:48 Dec 11, 2010
English to Malay translations [PRO] Bus/Financial - Finance (general) / Letter of credit
English term or phrase:Full set clean on board Marine/Ocean Bill of Lading
It is a shipping document required for the letter of credit application. Letter of credit is a binding document that a buyer can request from his bank in order to guarantee that the payment for goods will be transferred to the seller. Basically, a letter of credit gives the seller reassurance that he will receive the payment for the goods. In order for the payment to occur, the seller has to present the bank with the necessary shipping documents confirming the shipment of goods within a given time frame. It is often used in international trade to eliminate risks such as unfamiliarity with the foreign country, customs, or political instability.