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CARM: What all importers need to know about CARM

Terminology

L

L/C, Letter of Credit

A method of payment for goods in which the buyer establishes his credit with a local bank, clearly describing the goods to be purchased, the price, the documentation required, and a time limit for completion of the transaction. Upon receipt of documentation, the bank is either paid by the buyer or takes title to the goods themselves and proceeds to transfer funds to the seller.

Quick Tip #50
Save on smaller shipments by consolidating courier-type orders and using distribution hubs

Instead of sending multiple international courier packages on a daily basis, consolidate weekly and ship by the pallet to a distribution warehouse.

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