Titlebook: International Trade Finance; A Pragmatic Approach Tarsem Bhogal,Arun Trivedi Book 2019Latest edition The Editor(s) (if applicable) and The

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Bank Guarantees and International Bonds,it facility offered by a creditor/bank to a borrower. An international bond is an undertaking given by a bank or issuer at the request of its customer (contractor/supplier) in favour of a project owner or beneficiary/buyer in another country.

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ICC DOCDEX Rules, over the years. The increasing number of discrepancies in documents and resultant disputes between the parties involved in documentary credits necessitated evolution of a system for dispute resolution. The amount of commercial crime as ICC has put the value of Frauds at over multi-million US Dollar

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Services Offered by Commercial Banks,The finance of international trade forms an important part of any major bank’s services package. Many banks have specialised departments to handle the various aspects involved, comprising experienced staff able to cope with the demands of customers with overseas business to transact.

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Documentary Letters of Credit,There is always an underlying agreement between the principal parties to a trade transaction, often a buyer and a seller. The agreement may be verbal or written in a formal or informal language. Its terms may be simple or complex, as the parties may feel necessary. Such an underlying agreement is referred to as a “sale contract”.

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Letters of Credit: Types,Let us understand letter of credit and its various types with the help of a grid as in Fig. 7.1.

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