Live webinar on International Letters of Credit April 26, 2012

A letter of credit is one method of payment used in international trade transactions. The Uniform Customs and Practices (UCP 600) are the current internationally recognized set of rules created by the International Chamber of Commerce (ICC) which govern the use of letters of credit. The benefit to using a letter of credit is that it provides a conditional guarantee of payment from the importer (applicant) to the exporters (beneficiary) if the terms and conditions of the documentary credit are complied with.