Users' Handbook for Documentary Credits under UCP 600

Users’ Handbook for Documentary Credits under UCP 600 is designed to serve as an introduction to users of documentary credits, that is, to sellers and buyers who seek to increase their access to cross-border markets. It strives to demonstrate the way commercial parties and bankers have used this remarkable commercial device, the documentary credit, to achieve their objectives. 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. Users' Handbook also contains a handy glossary of international trade terms for easy reference. Table of contents: Part One International Sales and Transport Chapter 1 The International Sale Chapter 2 International Transport (Delivery) Part Two The Role of the Banks Chapter 3 International Payments Chapter 4 Cash and Open Account Sales Chapter 5 Forfaiting Chapter 6 The Documentary Draft Transaction Chapter 7 Introducing the Documentary Letter of Credit Chapter 8 Advising the Credit Chapter 9 The Nominated Bank Chapter 10 Confirming the Credit Part Three Honouring the Credit Obligation Chapter 11 Documents and Documentary Compliance Chapter 12 Honour and Dishonour Chapter 13 Reimbursement Part Four Financing the Transactions Chapter 14 Documentary Credits and Papers Presented under Them as Financing Devices Chapter 15 Using the Credit To Pay Suppliers By Transfer Chapter 16 Paying the Seller’s Supplier Chapter 17 Discounting Part Five The Standby Credit in International Trade Chapter 18 International Standby Credit Transactions Appendix Uniform Customs and Practice for Documentary Credits, 2007 Revision