Documentary Credit: Securing payments in International Trade through Bank Instruments

by Scott Pearls and Louis Kamga Kamga

A letter of credit (LC) or Documentary Credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Letters of credit are used extensively in the financing of international trade, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank...

• Format: Paperback
• Language: English
• ISBN: 1099572010
• ISBN13: 9781099572012
• Release Date: May 2019
• Publisher: Independently Published
• Length: 84 Pages
• Weight: 0.30 lbs.
• Dimensions: 0.2" x 6.0" x 9.0"