3. Columns 4 to 7 indicate, for each item, the purchase unit which is the size of the shipping container (ground beef comes in 10-pound bag), number of purchase units (there are six 10-pound bags in a purchase unit of ground beef), cost per unit (a 10-pound bag of ground beef costs $28.50-or $2.85 per pound), and total cost of the item (six 10-pound bags of ground beef at $28.50 equals $171).
Article 1 Application of UCP 600
The Uniform Customs and Practice for Documentary Credits, 2007 Revision, ICC Publication no. 600 ("UCP") are rules that apply to any documentary credit("credit") (including, to the extent to which they may be applicable, any standby letter of credit) when the text of the credit expressly indicates that it is subject to these rules. They are binding on all parti
Management challenge in Contracting
Challenges for public agencies
Loss of control
Reliance on contracting may put the government in a vulnerable position where essential services are concerned and lead to some loss of control over the services they purchase.
Excessive costs
Experienced service providers may have an information advantage over the government when new services are contract
Credit Rating Agency
A credit rating agency (CRA) is a company that
assigns credit ratings for
-issuers of certain types of debt obligations
-the debt instruments themselves
-even a country.
Three major global credit rating agencies
- Standard & Poor’s (S&P)
- Fitch IBCA
- Moody’s
credit rating
*Moody’s
21 levels (Aaa~C), If the level is lower t
for Documentary Credits 1993
A.-General Provisions and Definitions (Article 1-5)
Article 3 - Credits v. Contracts.
a. Credits, by their nature, are separate transactions from the sales or other contract(s) on which they may be based and banks are in no way concerned with or bound by such contract(s), even if any reference whatsoever to such contract(s) is included in the Credit. Consequentl