Documentary Letters of Credit & Collections

A large number of international transactions areconducted using letters of credit, or documentary letters of credit as they aremore formally called. Letters of credit are subject to internationallyrecognised rules, called the Uniform Customs and Practice for DocumentaryCredits, popularly known as UCPDC of which UCPDC 600 is the latest version.

Part I of this handbook discusses in detail all aspects ofletters of credit:

Types of letters of credit

Opening and advising of letters of credit, including credit application and its processing

Confirming and amending letters of credit

Shipping, financial, insurance and commercial documents involved in letters of credit

Negotiation and settlements

Financing under letters of credit, and

Responsibility of banks

Using a similar framework, Part II deals with collectionsequally comprehensively with collections.

This is a revised and expanded edition of a bestsellingbook by an expert banker which would serve exporters, importers andprofessional bankers both as an operations manual and a ready-reckoner onletters of credit and collections.

Packed withuseful ready-reference tools :

Operational checklists for credit openers; for issuing, advising, confirming and negotiating banks; and for beneficiaries.

Common discrepancies in letters of credit.

Answers to the most frequently asked questions about letters of credit and collections.

Definitions of specialist terms specimen forms and illustrative examples.

Full text of the articles of UCPDC 600 and Uniform Rules for Collections (UCR 522), given at relevant places throughout the book.