What is Uniform Customs and Practice (UCP) for Documentary Credits?

We all know that in the international trade of goods and services transactions takes place between the people belonging to different continents, languages, culture, and laws. Since the language used for communication of terms and conditions of LC may suggest different meaning in different parts of the world, people across the world realised the need…

Difference between purchase, discount and negotiation of export bills

The terms ‘bills purchase’,’ bills discount’, and ‘bills negotiation’ are respectively used by the bank for financing against ‘Demand Bills’,’Usance Bills’, and LC bills. The seller of goods (exporter) gets immediate money from the bank for the goods sold by him irrespective of whether it is a purchase, discount, or negotiation by the bank according…

Sweeping amendments in FDI rules

The Government of India introduced major changes in FDI policy on Monday, Jun 20, 2016, bringing most sectors and activities under automatic approval route. The changes introduced now simplifies the regulations governing foreign investments, increases sectoral caps with a small negative list. These amendments are the second sweeping changes in FDI policy after changes announced…