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International Trade Rules

Discussion in 'General Business Forum' started by Akzham, Jan 30, 2014.

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  1. Akzham

    Akzham UKBF Contributor Full Member

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    Hello, I am learning the basics of the letter of credit at the moment, and I had some questions about the rules that frame it.
    Are the IRDG 758, ISP 98 etc... widely used or most people use only the UCP 600?
    I don't get exactly what the eUCP can be use for, what do the ICC call "electronic presentation"?
    When you are middlemen in a commodity trade, and you use a letter of credit under the rules of the UCP 600, which letter of credit should you use, Transferable L/C, Back to Back L/C, something else?
    Because of it's length, I think some banks might not accept the ISBP. Does some banks recognize it?

    Any help is appreciated!
     
    Posted: Jan 30, 2014 By: Akzham Member since: Mar 11, 2013
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