Standby and Commercial Letters of Credit

Recent revisions of Uniform Commercial Code Article 5 and the UCP 500 have had repercussions for professionals dealing with letters of credit. To avoid problems, this is the resource you'll refer to over and over again. Written for day-to-day use, Standby and Commercial Letters of Credit, Third Edition gives you immediate guidance and answers when you need them most. It shows you how to document the letter of credit transaction from the viewpoints of the applicant, the beneficiary, and the bank. And it supplies real-world letters of credit with analysis of what was done right and what was done wrong. You'll also get information on the issuance agreement and annotated forms. The authors give you:Complete text of Article 5 of the Uniform Commercial Code and the UCPText and analysis of the new ISP98 standby Commercial Code and the UCPThorough discussion of rules and governmental actionsGuidance on such issues as fraud and injunctionsSubrogation, setoff, and marshallingInsolvencyAnd moreBrooke Wunnicke is the author of 'Standby and Commercial Letters of Credit', published 2000 under ISBN 9780735517332 and ISBN 0735517339.