The letters of credit that are used during international transactions are supervised by the International Chamber of Commerce Uniform Customs and Practice for Documentary Credits.
Letters of credit – Knowing the different types(Mediafire)
Internationaltrade comprise of factors like different laws, distance, various lawspertaining to the countries involved and the dearth of contact during theprocess of trade. Amidst all this, letters of credit are used as a dependablemechanism of payment. The letters of credit that are used during internationaltransactions are supervised by the International Chamber of Commerce UniformCustoms and Practice for Documentary Credits.
