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