A Comparative study on letter of credit obligations in the issuing bank's internal guidelines and the UCP600 regulations

Abstract

In transactions which are based on the letter of credit, the different parties involved and take on various obligations. In between, the role of issuing credit, is more Highlighted of other parties to the transaction, So that the latter can be cited as an important element of documentary credit. This article, review the most important obligations of the” issuing bank's internal Guidelines"as well as Obligations recognized According to the provisions of UCP 600.

Keywords

• issuing bank
• guidelines
• letters of credit
• provisions of ucp600