Tutorial Procurement & Commercial

  I'm familiar with the concept of surrendering a Bill of Lading (BL) in sea shipment. A surrender BL is a document issued by a shipping line or its agent that releases the original Bill of Lading (BL) to the consignee or another party, usually at the request of the shipper. The surrender BL is used to facilitate the transfer of ownership and physical possession of the cargo. This process is commonly used in international trade transactions where the cargo is shipped from one country to another and the original BL is needed for customs clearance and delivery of the goods. By surrendering the original BL, the shipping line or its agent acknowledges that the cargo has been received by the consignee or the designated party and that the original BL will no longer be valid for future shipments or claims. The surrender BL is usually issued after the shipment has been completed and the cargo has been received by the consignee. It is an important document in the shipping process as it faci...

 Know More About the TT Payment TT (Telegraphic Transfer) payment refers to an electronic method of transferring funds from one bank account to another, typically used for large, international transactions. The sender's bank sends a message via a secure network to the recipient's bank, authorizing the transfer of funds. The recipient's bank then credits the amount to the recipient's account. TT payments are considered secure and efficient and are commonly used in international trade and other high-value transactions. A TT payment, also known as a telegraphic transfer or wire transfer, is a type of electronic funds transfer that enables the transfer of money from one bank account to another, often across international borders. It is a fast and secure method of transferring funds, making it a popular choice for high-value transactions, such as business transactions and real estate purchases. The process of making a TT payment typically involves the following steps: The se...