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The Law of Letters of Credit
Library/File Location PRATT/LWLTRC
MBTEST/LWLTRC
Source Selection Location /Area of Law - By Topic/Banking & Financial Services/Search Analysis, Law Reviews & Journals/A.S. Pratt
/Area of Law - By Topic/Federal Practice/Search Analysis, Law Reviews & Journals/Banking/A.S. Pratt
/Area of Law - By Topic/Financial Crisis Litigation/Banking & Financial Services/Search Analysis, Law Reviews & Journals/A.S. Pratt
/Area of Law - By Topic/Financial Services Industry - Critical Issues/Banking & Financial Services/Search Analysis, Law Reviews & Journals/A.S. Pratt
/Secondary Legal/A.S. Pratt
Coverage

Through December 2014; Release 15

Frequency of Update Published regularly - Atypical frequency
Online
Availability
Updated regularly - Atypical update schedule
Publisher A.S. Pratt
Data Format Full-text
Description

Heavily cited by the courts, this publication gives detailed guidance on letters of credit law from a renowned expert in the field and has been the leading treatise on the subject for over 30 years. This expert resource guides you through the entire life cycle of the credit--including such essential steps as establishing, amending, and terminating the credit and transfers and assignments. The treatise combines all major U.S. and relevant international law in this area.

*  Transactional Focus. Written in an easy-to-follow, transactional form that clearly explains the mechanisms that underlie letter of credit activity, The Law of Letters of Credit makes it easy for you to establish, amend, terminate, and manage letters of credit throughout every stage of the credit.
*  Cutting-Edge Analysis. The treatise provides expert analysis of this complex body of law, and it delivers immediate benefits to parties entering into letter of credit transactions by making you better informed and helping you to better protect your clients.
*  Clear and Practical Analysis Based on Real-World Experience. The treatise delivers explanations and in-depth discussions of every facet of letters of credit in commerce and banking, both in international trade and in domestic commercial activity, and provides answers to all your letter of credit questions.
*  A Leading Authority. In an area with an increasing amount of activity and litigation, the federal and state courts frequently cite The Law of Letters of Credit: Commercial and Standby Credits.

Letters of credit are geared toward protecting the financial arrangement between buyers and sellers, and they do this well in good times and bad. The Law of Letters of Credit includes discussion of the following topics that are relevant to protecting parties' interests:

*  How the commercial letter of credit is used to support international sales
*  How standby credits are used in various features of real estate development, including: satisfying bond requirements at lower cost; serving as developer's equity in project; and avoiding loan commitment fees
*  How standby credits are used to secure leases of personal property and commercial tenant's rent obligations
*  How the invoice standby is used to obtain credit terms from a supplier and protect sellers by securing payment from weakened customers
*  How credits operate to provide liquidity; substitute one party's credit for another's; reduce transaction costs; shift litigation costs; avoid foreign litigation; and assure prompt payment
*  How bankers acceptances and deferred payment obligations create obligations that are readily acceptable in financial markets
*  How a beneficiary uses commercial letters of credit to finance its suppliers by: transferring the credit; assigning the credit's proceeds; and utilizing the back-to-back credit
*  How banks use letters of credit to secure borrower's loan repayment: obtaining a security interest in the credit and perfecting the security interest in the credit

Regions of Coverage /Region of Coverage/United States
/Region of Coverage/North America/United States
Publication Type /Source Type/Treatises & Analytical Material
Legal /Legal/Banking & Finance Law
Industry /Industry/Legal
/Industry/Banking & Finance
Premier Date November 21, 2013


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