letter of credit
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Title: letter of credit

Essay Details:

Subject: Business
Author: Seth H
Date: April 19, 2016
Length: 17 / 5068

Essay text:

This is due to the sanctity of the document. 1.1 Difficulties in International Sales Transactions. Payment for goods sold in international sales transactions is often problematic, due to the international character of the transaction. The parties usually have their places of business in different states, and are therefore subject to different national legal systems. Furthermore, the seller will often transport goods across large distances and across national borders. Under such circumstances, the seller has a great interest in ensuring that it will receive payment for goods sold once the goods leave its possession and control, and the buyer has a corresponding interest to ensure that the seller has dispatched conforming goods before making payment in terms of the sale agreement...

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