Discounting of Letters of Credit; A Legal Analysis

Mohammad Taghi Rafiei and Akbar Tamizi
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Mohammad Taghi Rafiei: University of Tehran
Akbar Tamizi: University of Tehran

Journal of Money and Economy, 2016, vol. 11, issue 4, 467-482

Abstract: Letter of Credit is an international payment instrument whereby the issuing bank undertakes to pay the beneficiary, against presentation of certain stipulated documents, according to the conditions of the Letter of Credit. Discounting of LC for the short-term financing of the seller, due to the independent and irrevocable undertaking of

Keywords: Assignment; Negotiation; Deferred; Acceptance; Fraud (search for similar items in EconPapers)
Date: 2016
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