International Payments
What is a documentary letter of credit?
A documentary letter of credit (also known as a commercial letter of credit or a merchandise letter of credit) is a letter of credit that is issued for the purpose of making payment to a specified beneficiary if the beneficiary performs as required. Documentary letters of credit are called documentary letters of credit because the banks involved in the letter of credit transaction deal in documents as opposed to goods. The terms and conditions specified in a documentary letter of credit generally involve the presentation of specific documents within a stated period of time.
More FAQs...
[Back to top]
Firm |
Practice Areas |
Important Developments |
Client Resources |
Search |
Home
Client Access
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
Copyright © by Gatti
& Associates Attorneys at Law. All rights reserved. You may reproduce
materials available at this site for your own personal use and for non-commercial
distribution. All copies must include this copyright statement.
|
|
This FirmSite® is designed and hosted by FindLaw®, a service of West Group, Eagan, Minnesota.
|
|
