Users’ Handbook for Documentary Credits under UCP 600 is an introduction to users of letters of credits as well as to sellers and buyers who seek to increase their access to cross-border markets.
It clearly illustrates how both commercial parties and bankers have used this remarkable commercial device, the documentary credit, to achieve their objectives in international business.
Users’ Handbook is divided into five parts:
- Part One is a brief discussion of international sales and transport.
- Part Two explains the banking industry’s crucial role in documentary credit transactions and illustrates many of the transactions in which commercial parties utilize the documentary credit.
- Part Three explains the way documents control the payment function of the documentary credit.
- Part Four introduces the all-important feature of the documentary credit – the ways it opens financing options to sellers, which can then extend credit to buyers.
- Part Five introduces the standby credit and illustrates its role in cross-border transactions.
- A handy glossary of international trade terms for easy reference.
This Users Handbook is an invaluable tool for users who are not yet familiarized with the application of Documentary Credits under
- John F. Dolan is Distinguished Professor at Wayne State University Law School.
- Walter (Buddy) Baker has over thirty years experience in international trade finance.