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A large number of international transactions are conducted using letters of credit, or documentary letters of credit as they are more formally called. Letters of credit are subject to internationally recognised rules, called the Uniform Customs and Practice for Documentary Credits, popularly known as UCPDC of which UCPDC 600 is the latest version.
Part I of this handbook discusses in detail all aspects of letters of credit:
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Types of letters of credit
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Opening and advising of letters of credit, including credit application and its processing
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Confirming and amending letters of credit
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Shipping, financial, insurance and commercial documents involved in letters of credit
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Negotiation and settlements
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Financing under letters of credit, and
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Responsibility of banks
Using a similar framework, Part II deals with collections equally comprehensively with collections.
This is a revised and expanded edition of a bestselling book by an expert banker which would serve exporters, importers and professional bankers both as an operations manual and a ready-reckoner on letters of credit and collections.
Packed with useful ready-reference tools :
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Operational checklists for credit openers; for issuing, advising, confirming and negotiating banks; and for beneficiaries.
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Common discrepancies in letters of credit.
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Answers to the most frequently asked questions about letters of credit and collections.
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Definitions of specialist terms specimen forms and illustrative examples.
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Full text of the articles of UCPDC 600 and Uniform Rules for Collections (UCR 522), given at relevant places throughout the book.
ISBN - 8170947367
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Pages : 268
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