ABSTRACT
This chapter shows the correct procedures required to close an intermediary trade. Although fictitious, it correctly describes timeframes, rules and methods that would be required in a real trade. FTN Exporting CEO Mr Pia enquires a comprehensive and free of ambiguous or improper trading terms and after some due diligence, he convinced that there is the potential to proceed with the matter. Pia did not have to write an introduction to Stephen, because Stephen has been attached to FTN Exporting for many years and is regarded as an asset to FTN Exporting. The supplier's bank has accepted Pias transferred financial instrument and now it is only a matter of time before the delivery documents are issued to Pia or his bank for final blank endorsement over to the end buyer. Pia has to record the total amount of the documentary letter of credit (DLC) on his sellers invoice.
