A Practical Guide to Letters of Credit

di Abdul Latiff Abdul Rahim (Autore)

Nalco Associates, 2020

While a letter of credit can be a very simple instrument for trade settlement, it can also be very complex. In simple terms, this book explains the intricacies of letters of credit used in domestic and international trade. This book is a practical guide for bankers and traders using letters of credit as a method of trade settlement. It covers all aspects of letters of credit from the time of application for letter of credit to the time of receiving the goods on the buyer's part; as well as from the time of receipt of the letter of credit to getting paid on the presentation of documents on the seller's part. It answers queries related to: • definition, functions and types of letters of credits; • meanings of concepts and terminologies in letters of credit; • completion of Application Form for Letter of Credit; • parties to a letter of credit and their rights and responsibilities; • availability of credits by sight payment, deferred payment, acceptance and negotiation and the differences amongst them; • functions and salient features of different types of documents used in international trade; • checklist for Application Form for Letter of Credit; • checklist on letter of credit received by the seller; • checklist for examining the most common documents used in trade before presentation to the bank; • high risk products like red clause, revolving, transferable and back-to-back credits and their practical operating procedures and the risks faced; • resolving discrepancies in documents by the nominated bank; • letters of credit as a financing instrument in more than 10 different ways; • assignment of proceeds of a letter of credit; and • the responsibilities of the seller and buyer under each Incoterms® 2010. There are 37 Figures, 22 Exhibits, 7 Tables and 15 Trade Documents that illustrates and which help to provide an easy understanding of various topics covered within this book. Comprehensive explanations and applications of the international rules for letters of credit, the Uniform Customs and Practice for Documentary Credits, ICC Publication No. 600, at the appropriate places of the text, with examples, makes the understanding of the rules easier.

• Autore: Abdul Latiff Abdul Rahim
• Anno edizione: 2020
• Editore: Nalco Associates
• Formato: EPUB3 con DRMFREE
• Compatibilità: Tutti i dispositivi (eccetto Kindle)
• Layout: Reflowable
• EAN: 9789671606612

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