An Introduction to Letters of Credit phần 3 pps

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 1 ppsx

An Introduction to Letters of Credit phần 1 ppsx

... of Credit 31 Transferable and Back -to- Back Letters of Credit 31 Transferable Letters of Credit 31 Back -to- Back Letters of Credit 34 Assignment of Proceeds 35 Simplified Letters of Credit 35 Chapter ... Currency Letters of Credit 24 Chapter 5 Letters of Credit – Special Types 29 Revolving Letters of Credit 30 Installment Letter...
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An Introduction to Letters of Credit phần 6 ppsx

An Introduction to Letters of Credit phần 6 ppsx

... of conveyance to another means of conveyance, in different modes of trans- port, during the course of carriage from the place of ship- ment to the place of destination stipulated in the Credit. d ... Claiming Bank to supply a certificate of compliance with the terms and conditions of the Credit to the Reimbursing Bank. c An Issuing Bank shall not be relieved from...
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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

... obligations of a reinsurer to an insurer. Revocable Letters of Credit Most Standby Letters of Credit are issued in irrevo- cable form. However, there are instances where the bank’s customer wants to retain ... 2 Meaning of Credit For the purposes of these Articles, the expressions “Docu- mentary Credit( s)” and “Standby Letter(s) of Credit (here- inafter referred...
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An Introduction to Letters of Credit phần 7 pptx

An Introduction to Letters of Credit phần 7 pptx

... 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 to that transac- tion. To avoid unnecessary ... arbitrator and to be fixed by the Center in accordance with article 39 ; b) The travel and other expenses incurred by the arbitra- tors; c) The costs of expert adv...
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An Introduction to Letters of Credit phần 8 docx

An Introduction to Letters of Credit phần 8 docx

... currency and amount; iii. additional amounts payable and tolerance, if any; iv. Claiming Bank or, in the case of freely negotiable credits, that claims can be made by any bank. In the absence of any ... the transport docu- ment. However, if a credit requires a transport document to be issued to order”, to the order of shipper”, to order of the issuing bank”, or “consigned to...
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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 ... standby letters of credit in the same sense that the Uniform Customs and Practice for Documentary Credits (UCP) and the Uniform Rules for Demand Guarantees (URDG) do for com...
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An Introduction to Letters of Credit phần 10 docx

An Introduction to Letters of Credit phần 10 docx

... 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 Letter of Credit. Underlying Transaction ... 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 an...
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