Professional Documents
Culture Documents
Examination
Study notes
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Chapter 1
Objectives :
History of LC
Basic principles of a DC/LC
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History
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ANATOMY OF A TRADE
SELLER
MONEY FLOW
GOODS FLOW
BUYER
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TRADE FACILITATION
SELLER
APPLIES FOR A
DOCUMENTARY CREDIT
PROVIDES A
DOCUMENTRARY
CREDIT
BUYER
RECOVERS MONEY
PAID
RELEASES THE
DOCUMENTS
RECEIVED
BANKER
HONORS THE
CREDIT
SUBMITES DOCUMENTS
REQUESTED IN CREDIT
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Roles of Bankers
Issuing Bank
Advising Bank
Nominated Bank
Confirming Bank
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UCP 600
Article 2
Defines various terms used in the Rules.
Negotiation
Honor
Credit.
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