Purchasing resources for International Letters of Credit


Reports and general information on letters of credit and international trade transactions through ecommerce.

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401k Plans

Information on 401(k) plans.

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401k Rollover

Business directory to 401k rollover information and advice.

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403(b) Plans

Resources and services for 403(b) plans.

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Retirement Consultants

Retirement industry advisers and consultants.

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Retirement Plans

Companies that provide retirement plan benefits, including 401k plans and pensions. Get information on corporate retirement plans, or how to offer retirement benefits for employees.

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401k

401(k) plans allow employees to save for their retirement by contributing a portion of their wages to an individual account. Employers can also contribute to 401(k) plans in the form of employee benefits; be sure your 401(k) vendor can manage your employees’ investments wisely.

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401(k) Plans Key Terms

Source: /guides/401-k-plans-key-terms-33062/

Learning about 401(k) plans key terms is a good place to start if you're considering starting up a retirement fund for your employees. From automatic enrollment to matching, after-tax and pre-tax contributions, 401(k) plans have several terms you may want to know before beginning one of these programs. More»

401(k) Plans Industry Overview

Source: /guides/401-k-plans-industry-overview-21253/

The 401k plan grew from a little known tax code loophole--which is where the 401k name came from--to the most common way workers invest for their retirement. This industry possesses trillions of dollars in allocated 401k retirement plan contributions. More»

Using International Letters of Credit


The paperwork surrounding an international letter of credit is daunting. But the idea is remarkably simple: The money is separate from the deal, and exchanged via you and your foreign partner's respective banks. If all terms in the letter are met (generally, that the goods have been shipped, although the jargon quickly overwhelms), the money moves. It's all about cutting risk.

Start at your local bank

Medium-sized U.S. banks in recent years have jumped into international trade finance and letters of credit. They can be more responsive, particularly for an existing customer.

Find a qualified partner

Ocean bills of lading are not the same as invoices, which are not the same as packing slips (six copies, please!). The regulations surrounding international letters of credit - essentially diplomatic agreements devised by the International Chamber of Commerce more than seven decades ago - can be complex, although the actual letter is simplicity itself.

Consider a courier

Another key trend in trade has been the rise of couriers from postal workers in nice uniforms to cutting-edge supply-chain providers.

Find a provider who is a good fit

Any number of companies sell software that generates export documents. Some offer outsourcing and still others can write software that links your export business right into your company's back office. It all depends on how heavy your export business becomes.

Protect yourself

Even a letter of credit isn't enough if the risk is bigger than you'd like, but the opportunity is bigger still. Export insurance can make a big difference at relatively little cost.
U.S. Export-Import Bank has a database of lenders who work in international trade.
  • Experience can vary, so get references from current customers before signing on with a bank or document-handling company.
  • Some financial experts consider letters of credit to be sometimes-useful antiques. Instead, couriers can offer foreign-country collect-on-delivery and similar services that can save you from the red tape.
  • Make no assumptions about speed. If you are counting on payment in a very short time frame, better to arrange working capital just in case.
  • Letters of credit come in two flavors: Revocable and irrevocable. The latter means neither party can alter the contract under any circumstances. Make sure you get the type of instrument that's right for your deal.