Documents & Incoterms
Frequently Asked Questions – Letter of Credit Documentation
Do you have any queries about Trade Finance?
We understand that preparing the documentation for a Letter of Credit can be complex. Below are answers to the most common questions. If you need further clarification, our team is here to help.
What is Incoterm?*
Incoterms® (International Commercial Terms) define responsibilities, risks, and costs between buyers and sellers in international trade. Specifying an Incoterm® in a contract ensures clear expectations for all parties involved, regardless of differing business practices across countries.
Developed by the International Chamber of Commerce (ICC), Incoterms® have been updated periodically since their introduction in 1936. The current version is Incoterms® 2020.
Why choose BAI Europa?
BAI Europa has been operating in Portugal for over 25 years. We are a financial institution governed by Portuguese law and regulated by the Bank of Portugal under European Union legislation.
We are part of the Banco Angolano de Investimentos Group, a leading financial institution in Angola
For over 25 years, our activity has supported Portuguese companies and those from other European countries in their export and investment activities in Angola and other Lusophone African countries.
Our mission is to be a key partner for clients with specific financial needs, offering a personalised service.