An Introduction to Letters of Credit phần 2 potx

An Introduction to Letters of Credit phần 1 ppsx

An Introduction to Letters of Credit phần 1 ppsx

... Currency Letters of Credit 24 Chapter 5 Letters of Credit – Special Types 29 Revolving Letters of Credit 30 Installment Letters of Credit 30 Advance Payment Letters of Credit 30 Red Clause Letters of ... Letters of Credit 31 Transferable and Back -to- Back Letters of Credit 31 Transferable Letters of Credit 31 Back -to- Back Letters o...
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An Introduction to Letters of Credit phần 3 pps

An Introduction to Letters of Credit phần 3 pps

... identity of one party from another, a Transferable Letter of Credit or a Back- to- Back Letter of Credit may permit the transaction to go forward. Transferable Letters of Credit – When a Letter of Credit issued ... provide financial assistance in the form of grants, loans, subsidies and guarantees. Grants, loans and subsidies are forms of direct agency assistance. G...
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An Introduction to Letters of Credit phần 4 pdf

An Introduction to Letters of Credit phần 4 pdf

... in any commercial or financial transac- tion. With a Standby Letter of Credit, the Issuing Bank substitutes its creditworthiness for that of its customer, the Applicant. The Standby Letter of Credit ... CREDIT Standby The banking industry has found it useful to distinguish between Commercial Letters of Credit, used to pay the purchase price for the shipment of goods, an...
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An Introduction to Letters of Credit phần 5 pptx

An Introduction to Letters of Credit phần 5 pptx

... of Credit. A Standby Letter of Credit issued in favor of a surety company is shown on page 57, Illustration 20 . Standby Letters of Credit as a Payment Mechanism Standby Letters of Credit used as ... Bonds Standby Letters of Credit are used to enhance the credit rating of municipal and other bonds and notes and may be structured as either a guarantee type or...
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An Introduction to Letters of Credit phần 6 ppsx

An Introduction to Letters of Credit phần 6 ppsx

... be transferred during the transitional period, the transfer- ring bank may convert the currency and amount of the credit into the euro equivalent. 2. 2 URCG 325 / URDG 458 / URCB 524 — Guarantees and bonds The ... 1st to the 10th, the 11th to the 20 th, and the 21 st to the last day of such month, all dates inclusive. F. TRANSFERABLE CREDIT Article 48 Transferable Credit a...
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An Introduction to Letters of Credit phần 7 pptx

An Introduction to Letters of Credit phần 7 pptx

... in a manner necessary or desirable to permit the use of the credit. 3. The applicant should be aware that the UCP contains Articles such as Articles 13, 20 , 21 , 23 , 24 , 26 , 27 , 28 , 39, 40, 46 and ... CONSIDERATIONS The application and issuance of the credit 1. The terms of a credit are independent of the underlying transaction even if a credit expressly refers...
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An Introduction to Letters of Credit phần 8 docx

An Introduction to Letters of Credit phần 8 docx

... calculation of the period. 19. Dates may be expressed in different formats, e.g., the 12th of November 20 03 could be expressed as 12 Nov 03, 12Nov03, 12. 11 .20 03, 12. 11.03, 20 03.11. 12, 11. 12. 03, 121 103, ... bill of lading date 12 May 20 02 , or 108 Airports of departure and destination 1 52. Air transport documents must indicate the airport of departure and airport o...
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An Introduction to Letters of Credit phần 9 docx

An Introduction to Letters of Credit phần 9 docx

... and Interpretation of These Rules 1.01 Scope and Application a. These Rules are intended to be applied to standby letters of credit (including performance, financial, and direct pay standby letters ... Customs and Practice for Documentary Credits (UCP) and the Uniform Rules for Demand Guarantees (URDG) do for commercial letters of credit and independent bank guarantees. Th...
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An Introduction to Letters of Credit phần 10 docx

An Introduction to Letters of Credit phần 10 docx

... convey- ance to another within the same mode of transportation. Transferring Bank - A bank authorized by the Issuing Bank by nomination in the Letter of Credit to effect a transfer of the Issuing Bank’s ... evidenc- ing shipment of merchandise and often is used in lieu of bid bonds, performance bonds or payment guarantees to secure a transaction or the performance of anoth...
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