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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

Publisher: Global Training Center
Approximately 290 pages /
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 Letters of Credit in International Trade: A User’s Guide by John A. Novak, Bremer Bank N.A. and Catherine J. Petersen of C J Petersen & Associates, LLC 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. 

The table of contents is included here, which serves as the agenda for day-long seminars and webinars on letters of credit.

CHAPTER 1 METHODS OF PAYMENT    
A.    Cash in Advance    
B.    Collection Basis    
C.    Open Account    
D.    Consignment    
E.    Credit Card    
F.    Countertrade and Barter    
    
CHAPTER 2 LETTER OF CREDIT    
A.    Basics of Letters of Credit    
B.    Definitions    
C.    Commercial Contract vs. Letter of Credit    
D.    Types of Letters of Credits    
E.    Documentation    
F.    Fees Associated with a Letter of Credit    
G.    Standardization of Letters of Credit    
H.    Letters of Credit: Proceed with Caution    

CHAPTER 3 IMPORT LETTERS OF CREDIT
A.    Application and Agreement    
B.    How to Fill Out the Application    
C.    Conditions of the Credit    
D.    Advising the Letter of Credit    
E.    Negotiation for Payment    

CHAPTER 4 EXPORT LETTERS OF CREDIT    
A.    Opening and Advising an Export Letter of Credit    
B.    Unconfirmed Letter of Credit: Bank Specified    
C.    Steps in Reviewing an Export Letter of Credit    
D.    Presentation of Documents    
E.    Documentation Discrepancies and Letters of Credit    
F.    Obtaining Payment    
G.    Assignment of Proceeds    

CHAPTER 5 SPECIAL TYPES OF LETTERS OF CREDIT AND TRADE FINANCE
A.    Standby Letters of Credit    
B.    Back-To-Back Letters of Credit    
C.    Transferable Letters of Credit    
D.    Revolving Letters of Credit    
E.    Red Clause Letters of Credit    
F.    Using Banker’s Acceptances    
G.    Export Working Capital Financing    
H.    Working Capital Loan Programs
I.    Export Credit Insurance    
J.    Factoring    
K.    Forfaiting    
L.    Foreign Exchange Risk Management    
M.    Purchase Order Financing    

CHAPTER 6 Uniform Customs and Practice for Documentary Credits, UCP 600  

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