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Letters of Credit: Disputes

A letter of credit is a document that operates as a payment method whereby parties doing business can enhance the likelihood of payment (typically for goods) through obtaining a form of payment guaranty from a financial institution. In this lesson we will look at the rules governing letters of credit, namely UCC Article 5 and the Uniform Customs and Practices 600. In particular, we will look at how these rules help in the resolution of pre and post honor disputes concerning letters of credit.

Lesson Completion Time

45 minutes
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