Explain the significance of each of the following documents as used in international trade.
-Bill of lading
-Proforma invoice
-Indent
-Letter of credit


Answer:

-Bill of lading: it is a document used in transporting goods by ship. It enables the holder to take possession of goods imported
-Proforma invoive: A document sent in advance of goods being exported.
-Indent: An order placed with agent of exporter. It is used to assist the exporter of the agent to know where to buy goods. It is used to assist the agent to select on exporters.
-Letter of credit: A official letter from the bank allowing
another bank in foreign country to pay an exporter on the behalf of the importer.


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