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LettersOfCreditNEW

Letters of Credit in International Trade: A User’s Guide

by John A. Novak of Bremer Bank N.A. and

Catherine J. Petersen, of C J Petersen & Associates, LLC

Approximately 290 pages
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Letters of Credit in International Trade: A User’s Guide is a handbook that you’ll want to keep at your fingertips. It is a reference book with explanations, definitions, and the full text of the International Chamber of Commerce’s Uniform Customs and Practice for Documentary Credits, UCP 600. The UCP 600 is a banker’s bible when letter of credit presentations are being evaluated.

This text includes do’s and don’ts, templates, checklists that sellers and buyers will want to include in their desk procedures when evaluating letters of credit for amendments or whether to accept the letter of credit. There are case studies and quizzes that a student of letters of credit can use to expand their knowledge. 

This text includes:

METHODS OF PAYMENT    


LETTER OF CREDIT TOPICS    

  • Basics
  • Definitions   
  • Commercial Contract vs. Letter of Credit   
  • Documentation   
  • Fees
  • Standardization

IMPORT LETTERS OF CREDIT

  • Application and Agreement   
  • How to Fill Out the Application   
  • Conditions of the Credit   
  • Advising the Letter of Credit
  • Negotiation for Payment

EXPORT LETTERS OF CREDIT

  • Opening and Advising an Export Letter of Credit   
  • Steps in Reviewing an Export Letter of Credit   
  • Presentation of Documents   
  • Documentation Discrepancies and Letters of Credit   
  • Obtaining Payment   
  • Assignment of Proceeds

   

SPECIAL TYPES OF LETTERS OF CREDIT AND TRADE FINANCE

  • Standby Letters of Credit   
  • Back-To-Back Letters of Credit   
  • Transferable Letters of Credit   
  • Revolving Letters of Credit   
  • Red Clause Letters of Credit   
  • Using Banker’s Acceptances   
  • Export Credit Insurance   
  • Factoring   
  • Forfaiting   
  • Foreign Exchange Risk Management   

Uniform Customs and Practice for Documentary Credits, UCP 600

ISP 98 – Rules for Standby Letters of Credit  

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