This study provides evidence that shocks to the supply of trade finance have a causal effect on U.S. exports. The identification strategy exploits variation in the importance of banks as providers of letters of credit across countries. The larger a U.S. bank’s share of the trade finance market...

It is estimated that over 80 percent of the goods sold on international market are carried by sea [1] and many times a bill of lading is required for cashing the letter of credit. The parties to the sale contract require that cargo is described as clear as possible and a certificate of quality...

Purpose – This paper seeks to examine the differences between traditional documentary credits and corporate issued documentary credits and to show the effects of these differences on the application of documentary credits within a fraud context. Design/methodology/approach – The objective of...

Purpose – This paper aims to address issues of law and policy, the potential pitfalls such as fraud, conflict of law and documents discrepancies that are often encountered by the parties in usage and practice of the Letter of Credit (LC). The article has gleaned other forms of payment...

Purpose – The purpose of this paper is to examine the current legal framework for payment system in international Islamic trade finance vis‐à‐vis the new regime introduced by the Uniform Customs and Practice for Documentary Credits (UCP) 600 as well as the Sharī'ah Standard on...

A Short Course in International Payments describes how to use letters of credit and documentary collections, how to grant and obtain credit, and how to use cyberpayments in international trade. The book also has an excellent section on trade documentation