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One of the most important factor for Textile and Garments Industry is proper documentation. A perfect documentation system can help you to finish the whole process properly without any problem. So that we need to understand all apparel and textile departments documentation properly.
Merchandiser plays an important role in an apparel industry or buying house in a sense that he/she bears more responsibility than other in regards to execution of an order.
Documentary letter of credit is such kinds of commercial letter which a bank issue on behalf of foreign seller (exporter) according to the direction of the (importers) purchasers. The documents shown under are known as export documents form the importer's side. These are :-
Bill of Exchange
The bill of exchange is that particular instrument through which payment is effected in trade deals internal and international. The payment for the goods is received by the seller through the medium of a bill of exchange drawn on the buyer for the amount depending on the contract. It is a negotiable instrument. There are five main parties involved in a bill of exchange. They are :-
⇒Drawer
⇒Drawee
⇒Payee
⇒Endorser
⇒Endorsee