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Discounting of Letters of Credit; A Legal Analysis

Author

Listed:
  • Rafiei, Mohammad Taghi

    (University of Tehran)

  • Tamizi, Akbar

    (University of Tehran)

Abstract

Letter of Credit is an international payment instrument whereby the issuing bank undertakes to pay the beneficiary, against presentation of certain stipulated documents, according to the conditions of the Letter of Credit. Discounting of LC for the short-term financing of the seller, due to the independent and irrevocable undertaking of

Suggested Citation

  • Rafiei, Mohammad Taghi & Tamizi, Akbar, 2016. "Discounting of Letters of Credit; A Legal Analysis," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 11(4), pages 467-482, October.
    • Handle: RePEc:mbr:jmonec:v:11:y:2016:i:4:p:467-482
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