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Letters of Credit
Research Paper # 21164
Letters of Credit
An examination of the definition, types (commercial and standby), settings (domestic and international), the role of banks, laws, fraud, revocability, payment compliance and examples. 30 cases are cited.
4,275 words (approx. 17.1 pages) |
5 sources |
1994
From the Paper:
"Letters of CreditThis paper will discuss letters of credit in the domestic and international settings. Both straight commercial letters of credit and standby letters of credit will be examined. The emphasis of the paper will be on the maintenance of independence between letters of credit and the underlying transactions they support.
Commercial Letters of Credit
A commercial letter of credit is a legal undertaking by a bank or other lender to pay a certain designated "beneficiary" if terms and conditions prescribed in the letter are satisfied and certain stipulated documents are tendered.. The beneficiary is usually the seller of the goods in the transaction; the buyer in the transaction is refer..."
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APA Citation:
Letters of Credit (2012, January 15). Retrieved February 12, 2012, from http://www.academon.com/Research-Paper-Letters-of-Credit/21164
MLA Citation:
"Letters of Credit" 15 January 2012. Web. 12 Feb. 2012. <http://www.academon.com/Research-Paper-Letters-of-Credit/21164>
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