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ISBN
:
9788170947363
Publisher
:
Vision Books
Subject
:
Finance & Accounting
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395.0
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292.0
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Documentary Letters of Credit and Collections: A Handbook for Bankers, Importers and Exporters More than 85% of all 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 the Uniform Customs and Practice for Documentary Credits, popularly known as UCP, the internationally recognised rules. UCP 600 is the latest version. Part I of this handbook discusses in detail all aspects of letters of credit: Types of letters of credit: revocable and irrevocable; confirmed letter of credit; with and without recourse credit; etc. Opening and advising of letters of credit, including credit application and itsprocessing Confirming and amending letters of credit Shipping, financial, insurance and commercial documents involved in letters of credit Negotiation and settlements, and Financing and disclaimers. Using a similar framework, Part II deals with collections equally comprehensively: Types of collections The collections mechanism with summary of common discrepancies in bills of exchange Release of documents Responsibility of banks, and Important differences between collections and letters of credit. Complete with accurate definitions, specimen forms and illustrative examples, this book by an expert banker would serve exporters, importers and professional bankers as a ready-reckoner for letters of credit and collections. This book is packed with ready-reckoner tools for practitioners: Operational checklists for credit openers; for issuing, advising, confirming and negotiating banks; and for beneficiaries. Common discrepancies in letters of credit. Glossary defining and explaining specialist terms. Answers to the most frequently asked questions about letters of credit and collections. Complete text of UCP500 and Uniform Rules for Collections (UCr 322), the corresponding framework in the case of collections.
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