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Book Description
Letter of Credit (LC) is one of the methods by which settlement of payment takes place in a highly-secured manner. It is a conditional assurance issued by a banker on behalf of the applicant assuring the beneficiary the payment of his dues upon satisfactory compliance with the terms; conditions and stipulations set out in the letter of credit. However, the study of Letters of credit Mechanism involves a lot of technicalities. Using the Letter of credit Mechanism as a payment tool without proper understanding such technicalities may result into grave situations.
Important Contents:
• INCOTERMS – 2010
• Methods of International Settlement
• Purpose of Letter of Credit
• Contents of the Letter of Credit
• Letter of Credit Mechanism
• Types of Letters of Credit
• Indian Market Conditions
• Issue of Documentary L/C
• Transferring the Letter of Credit
• Check List for the Beneficiary
• Scrutiny of the documents received under L/C
• SWIFT L/C Format
• Important Terms
ISBN – 13 : 978-8193434512