Letter of Credit Non-bank Issuer

Stephen A. Jones ()
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Stephen A. Jones: AXS Trade Finance Ltd.

Chapter 7 in The Trade and Receivables Finance Companion, 2019, pp 95-103 from Springer

Abstract: Abstract Letters of credit are used where there is a lack of trust between the seller and the buyer. A disadvantage to the applicant is that the issuance of a letter of credit by their bank will require a credit facility. When the buyer wishes to avoid the requirement or utilisation of their credit facility, they may consider issuing their own documentary credit or having this issued by a non-bank third party. An example of a non-bank issued credit is reviewed, the risks to the beneficiary examined and their request for negotiation finance considered.

Keywords: Documentary risk; Negotiation; Non-bank issuer letter of credit (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-25139-0_7

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DOI: 10.1007/978-3-030-25139-0_7

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