Documentary credits are seen as a guaranteed way for sellers to obtain the price of the goods within the credit from the banks and not the buyer and ensure the receipt of the value of the goods in exchange for the submission of the documents consistent with its terms when the banks issue obligations to pay if the documents are received within the agreed terms.
Explain what a documentary credit is and its main features
Identify pre-issuance considerations
Understand Letters of credit cycle
Identify roles and responsibilities of the issuing bank, confirming bank, advising bank, and nominated bank
Understand the scope of application of Uniform Customs and Practices (UCP600)
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