Letters of Credit for Americans

LETTERS OF CREDIT FOR AMERICANS Recently published for the new UCP 600 rules, this book presents the highly technical banker jargon in clear American business English in the same user-friendly style found in Incoterms for Americans. Letters of Credit for Americans both explains the UCP 600 provisions and illustrates them using a model purchase-sale contract, letter of credit, and resulting documents. It describes the roles and relationships of key letter of credit players: applicant, issuing bank, advising bank, nominated bank, confirming bank and beneficiary. Readers are guided through such important related topics as service provider selection, control of documentation and discrepancy avoidance. Written by an experienced international trader and an equally experienced international banker, Letters of Credit for Americans provides valuable advice for exporters, importers and their service providers. It is also extremely useful for bankers in employee training and counseling their clients. This book is designed for use together with the official Uniform Customs and Practice for Documentary Credits, UCP 600.