This authoritative reference book gives thorough, practical guidance for anyone who needs to deal with standby letters of credit either professionally or academically. Augmented with examples of numerous real-life cases, the book addresses the exact procedures undertaken by global banks in handling letters of credit transactions whilst incisively providing an article by article interpretation of the ISP98. Furthermore, the book also explains the credit operation cycle, the various parties to the credit transaction, types and uses -with special emphasis on tender and performance standby letters of credit, roles and responsibilities, risk management and fraud detection and prevention. This provides all the tools you need to deal not only with routine problems but also with unforeseen difficulties.
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