Letters of Credit in International Trade PDF Download

Author: John A. Novak
Publisher:
ISBN: 9781891249754
Category :
Languages : en
Pages : 349

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Author: Ramandeep Kaur Chhina
Publisher: Kluwer Law International B.V.
ISBN: 9041146245
Category : Law
Languages : en
Pages : 256

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Book Description
The question of what constitutes ‘fraud in the transaction’ with respect to international letters of credit varies considerably among jurisdictions. In proving allegations of fraud, it is crucial for the practitioner to know the relevant jurisdiction’s case law, especially if wider defences such as inducement, unconscionable conduct or bad faith must be invoked. In this book, the author argues that, whereas ‘fraud in the documents’ is generally sufficient in cases involving commercial letters of credit, standby letters of credit demand a wider fraud exception. The central issue – how wide that fraud exception should be – is what this book explores in depth.This author compares and critically examines the application of the fraud exception in four major trade jurisdictions – the United States, England, Canada, and Australia. With an overall focus on how each jurisdiction’s fraud tests treat the autonomy of standby letters of credit, she builds her arguments on such relevant sources and concepts as the following: when it can be shown that the beneficiary has ‘no bona fide belief’ in the validity of its claim demand guarantees; international initiatives (ICC Rules and the UN Convention on Independent Guarantee and Standby Letters of Credit); the Sztejn Rule; parameters of the ‘fraud in the transaction’ defence ‘materiality’ standard; prerequisites for injunctive relief; arguing ‘fraud in the formation of the contract’; performance bond cases; applying the ‘breach of good faith’ defence; ‘negative stipulation’ in the underlying contract; and equitable versus statutory/broader notion of unconscionability. The presentation includes detailed summaries and analyses of leading cases in all four jurisdictions. Lawyers and corporate counsel responsible for arguing claims or defences in letter of credit transactions will welcome the way the author's research and insight define the range of options in each case they handle. Academics also will appreciate the systematic way the book frames a complex area of international trade law.

Author: Tarsem Bhogal
Publisher: Springer Nature
ISBN: 3030245403
Category : Business & Economics
Languages : en
Pages : 371

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Book Description
The 21st century has witnessed swift change in every sphere of the human endeavour. Regulatory re-alignment, digitalisation and economic and political developments have contributed to paradigm shift in banking, trade, finance and the shipping industry virtually transforming the landscape. International Trade Finance is an essential tool for bankers, exporters/importers, shippers, consultants, teachers and students navigating the procedures of international trade finance. The book addresses basic topics relating to international trade including letters of credit mechanism, collections of bills, trade customs and practice. New to this revised edition, it covers SWIFT updates, supply chain system, UKEF, Blockchain technologies, the implications of BREXIT, NAFTA, Mexico, Canada and other bilateral agreements and their implications, the US sanctions, terrorist financing and anti-money laundering provisions, and a check list to control financial crime risks in trade finance. The extended metaphor of the book is that of an arm chair tour covering fundamentals to the nuances of the hard core of the subject matter and enabling the readers to deal with complicated implementation issues in a forthright and comprehensive fashion.

Author: Matthieu Crozet
Publisher:
ISBN:
Category : COVID-19 Pandemic, 2020-
Languages : en
Pages : 30

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Book Description
This study argues that the ability to mitigate risks associated with international trade is particularly important at times of heightened uncertainty, such as the economic crisis caused by the Covid-19 pandemic. Risk mitigation can be achieved through letters of credit (LCs), trade finance instruments providing guarantees to trading partners. As their use varies across products, exports of some products are more resilient than others during times of increased uncertainty. This situation reverses in times of financial crises when distressed banks may limit the supply of LCs. Our analysis using data on US and EU-15 exports during the Covid crisis and the Global Financial Crisis provides empirical support for these hypotheses.

Author: Richard E. Baldwin
Publisher: CEPR
ISBN: 1907142061
Category : Commercial policy
Languages : en
Pages : 246

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Author: Matti Kurkela
Publisher:
ISBN: 9780195323160
Category : Law
Languages : en
Pages : 0

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Book Description
Letters of credit and bank guarantees are the most important financial instruments in international exchange. Matti S. Kurkela, a leading expert in the field, presents an advanced, extensive study and guide to letters of credit. The author analyzes the material rules and principles applicable to them; conflict of laws as well as law merchant applied regardless of place of operation or nationality of the parties involved. Letters of Credit and Bank Guarantees under International Trade Law is the only true guide whose focus is on international law and choice of applicable law, with comparisons of the UCP, the UCC and selected national laws. Bank attorneys, international bankers, commercial bankers, international trade and finance attorneys in law firms, in-house counsel, financial institutions, and academia will find this a clearly written, invaluable guide to the latest rules, case law and practice relating to these financial instruments. The new, expanded Second Edition includes: - Analysis and comparison of commercial and standby credits, bank guarantees and bonds in use in international exchange - Introduction to the various sets of rules in use in international operations and banking - Changes made to the UCC Article 5 and UCP 600 - New development and landmark decisions and case law since the publishing of the first edition - Guidance to and analysis of inter bank relationship, indemnity agreements and reference to sample documentation, and numerous sample clauses - Reference to statutory laws of lcs in various countries

Author: Rupnarayan Bose
Publisher: Notion Press
ISBN: 1648508774
Category : Business & Economics
Languages : en
Pages : 479

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Book Description
Letters of Credit: Theory and Practice explains in simple English all the important information you’ll ever need on letters of credit (LC). This book provides extensive, easy-to-understand, practical and useful suggestions to help during negotiations, in selecting the right terms of payment, improving operations, reducing errors and risks, facilitating trade and final settlement, and much more. It is extensively researched, delving deep into the subject of international trade, presenting current issues and solutions related to LCs that the reader may not otherwise come across easily. A gold mine of information on payment risk management, it’s the last word on documentary credits. “This book is a great read for knowledge and practical information on letters of credit. It succinctly takes the reader through the concepts of risk management, explains the fundamentals of global trade finance issues, the dilemmas plaguing international sellers and buyers, and standardised ways for the buyer and the seller to secure goods and make payments, respectively. This is a must-read book for academicians, exporters, importers and bankers looking for complete, authentic information on international trade finance and global business.” - Dr. Deepankar Sinha, Professor; Head - Research Division, Kolkata Campus; Programme Director - Centre for Trade and Logistics (CFTL), Kolkata Campus, Indian Institute of Foreign Trade (IIFT)

Author: Anders Grath
Publisher: Kogan Page Publishers
ISBN: 0749463988
Category : Business & Economics
Languages : en
Pages : 224

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Book Description
Designed for use by anyone involved in international sales, finance, shipping and administration, The Handbook of International Trade and Finance provides a full explanation of the key areas of international trade - including risk management, international payments and currency management. It is an essential reference source that will help to reduce risks and improve cashflow, identify the most competitive finance alternatives, structure the best payment terms, and minimize finance and transaction costs. Coverage includes: trade risks and risk assessment; methods of payment; currency risk; export credit insurance; trade finance; and terms of payment. Designed for all businesses, regardless of size and business sector, the book also describes the negotiating process from the perspectives of both the buyer and the seller - providing valuable insight into the complete financing process.

Author: Nisha S Koshal
Publisher: Notion Press
ISBN: 1946822086
Category : Business & Economics
Languages : en
Pages : 214

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Book Description
The book elucidates the importance of a letter of credit in matters of trade finance. A letter of credit is an instrument that is used worldwide to facilitate the flow of trade finance. This book is ideal for beginners who are interested in the subject but do not possess a clear understanding of the basics of the letter of credit or adequate technical knowledge. It may also benefit bankers and students of international trade finance. It will help them build a strong foundation to help understand how to tackle difficult day to day transactions. The book explains the UCP 600 guidelines that govern letters of credit and the roles of the issuing bank, beneficiary, advising bank, nominated bank, confirming bank, applicant and so on. This book is not exhaustive as letter of credit is a vast subject and every single transaction carried out is unique. The book has been written keeping in mind the difficulties I faced while working at a bank and the experiences I have gained thus far, on my journey as a trade finance professional.

Author: Kheng Chuan Goh
Publisher:
ISBN: 9789810071875
Category : Bills of lading
Languages : en
Pages : 149

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