The authoritative guide to contemporary letter of credit transactions. Describes the mechanics and operation of the letter of credit from the point of view of the issuing bank, the intermediate bank, the applicant and the beneficiary. Illustrates the international character of the modern letter of credit as it is used in business today with cases from Canada, the U.S., the U.K., France and Australia. Features coverage of important new cases as well as material on the International Chamber of Commerce's Uniform Customs and Practice for Documentary Credits.
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