Silva Graduates

17/01/2024

13/01/2024

https://www.schain24.com/2024/01/12/the-red-sea-a-discussion-in-a-supply-chain-perspective/

In the global shipping arena Red Sea is very important and any disruption in this area increase of shipping time and cost happens.

12/01/2024

https://geediting.com/specific-things-mentally-strong-people-do-every-single-day/

Mentally strong people don’t just wake up one day with this resilience; it’s a daily practice. And guess what? They have some specific things they do every single day that contributes to their strength. They have habits that they’ve inculcated into their everyday routine that helps them mainta...

13/12/2023

Abstract

A letter of credit(LC) is also named a documentary credit(DC) in globalized international trade. In recent times blockchain technology is utilized by banks regarding the formulation of letters of credit. The ICC regulates market practices (Documentary Credit 600) in this regard. These include the advising bank that will give the documentary credit to the beneficiary or their nominated bank and provide their nominated bank with any amendments to the letter of credit. A certain percentage of the letter of credit value is retained by the bank for security purposes. Blockchain technology is available for the letter of credit procedure and trade finance is related to it. Commerce and international trade finance include products such as issuing letters of credit, indemnifying Bills of Lading, etc. Although the letter of credit was created in the old world methods managing the shipping of goods and related accommodations. But there is a great potential to supersede these paper processes with digitized operations utilizing blockchain technology. International trade requires a number of participants to interact with one another i.e., the exporters, importers, banks, shipping companies, port-related entities, and customs. Trade finance in supply chain management(SCM) includes products such as lending, issuing letters of credit, factoring, export credit, and indemnification.

Read more: https://www.schain24.com/2023/12/12/letter-credit-blockchain-technology-supply-chain/