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Letter of Credit Non-bank Issuer

In: The Trade and Receivables Finance Companion

Author

Listed:
  • Stephen A. Jones

    (AXS Trade Finance Ltd.)

Abstract

Letters of credit are used where there is a lack of trust between the seller and the buyer. A disadvantage to the applicant is that the issuance of a letter of credit by their bank will require a credit facility. When the buyer wishes to avoid the requirement or utilisation of their credit facility, they may consider issuing their own documentary credit or having this issued by a non-bank third party. An example of a non-bank issued credit is reviewed, the risks to the beneficiary examined and their request for negotiation finance considered.

Suggested Citation

  • Stephen A. Jones, 2019. "Letter of Credit Non-bank Issuer," Springer Books, in: The Trade and Receivables Finance Companion, chapter 7, pages 95-103, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-25139-0_7
    DOI: 10.1007/978-3-030-25139-0_7
    as

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