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Just like there are a huge benefits of using letter of credits in International Trade, there are also drawbacks of Using letter of Credits as well. If you’ve ever had to fill out a customs form, then you know how complicated and confusing international trade can be. From the names of the
Read Full ArticleThis post focuses on some type of letter of credit. Have you ever had a challenge differentiating between each type of letter of credit? In a recent article, we discussed 5 common payment methods there are in international trade, one of which is the Letter of Credit. And in the
Read Full ArticleHave you ever been confused by what a letter of credit is? Or ever asked why you need it in international trade? or probably wish to understand in detail the various payment methods in international trade. Mostly as an exporter who might have experienced the use of this payment method, you
Read Full ArticleInternational trade has existed for centuries. As the volume of international business grew, so did the need for certain agreed-upon documentation to regulate transactions. One of these is payment methods in international trade. There are five major types of payment used by businesses engaged
Read Full ArticleLet’s face it, 4 out of every 10 importers have wondered if it is possible to ship a container directly to Nigeria without using freight forwarders. Yes, no doubt, it will save you some money on your container shipping fees but don’t expect to see a profit in the end. Here’s
Read Full ArticleIn the past, it used to be quite a difficult task to import wholesale electronics for resale from China to Nigeria. In the advent of improved standards of the internet, there are several possibilities across the board. One of the most important questions that need to be asked before importing
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