Trade
What is UCP 600? The Rules Behind Letters of Credit
UCP 600 is the ICC rulebook a letter of credit can adopt by reference. What it covers, when it applies, and how it sits beside US law.
Trade
Trade
Standby Letter of Credit vs Bank Guarantee
A standby letter of credit and a bank guarantee both pay on a demand, not on proof of default. How they differ in rules, wording and US bank practice.
Trade
Confirmed vs Unconfirmed Letter of Credit
Confirmation adds a second bank's promise to pay. What it covers, what it does not, and when an exporter's bank may be asked to confirm a credit.
Trade
Trade Finance Instruments Explained: A Plain Guide
Letters of credit, standbys, guarantees, collections and bonds: what each trade finance instrument does, who carries the risk and which rules apply.