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CHAPTER 2 THE DOCUMENTARY CREDIT IN GENERAL TERMS

Bills of Lading and Bankers Documentary Credits

2

THE DOCUMENTARY CREDIT IN GENERAL TERMS

THE DOCUMENTARY CREDIT IN GENERAL TERMS

2.1 The rationale for the documentary credit has already been considered.1 The purpose of this chapter is to describe the documentary credit in general terms, to outline the various forms of credit in use today and to describe the protection given to each of the parties. It also covers a number of other fundamental documentary credit issues.

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