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CIP

CIP (Carriage and Insurance Paid To) is a commonly used trade term in international commerce. It refers to a contract between the seller and buyer, where the seller bears the cost and risk of transporting the goods to the agreed upon destination. This includes not only the carriage of the goods, but also the cost of insurance. CIP is often used in conjunction with a named point, indicating the exact location where the goods will be delivered. It is important to understand this term when engaging in global trade, as it outlines the responsibilities of each party and helps to avoid any misunderstandings or disputes.

Revolving credit

A revolving letter of credit is a financial instrument commonly used in international trade. It allows the buyer to make multiple draws against the credit, as long as the to...

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Currencies

Currencies are a fundamental aspect of finance, serving as the primary medium of exchange in a country. These monetary units, in the form of notes and coins, hold significan...

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Bill of Exchange

A negotiable instrument is a powerful tool in the world of finance, representing an unwavering demand for payment. It serves as the foundation for documentary collection pro...

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Deductive Logic

Expert systems rely on deductive reasoning, a logical approach that moves from a general principle to a specific conclusion. This method involves using known facts to reach ...

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