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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2019 |
Essay's paper body
So a medium through which payment against “Constructive Deliveryâ€, by handling over documents or transferring title to or control over the goods is possible through this mechanism.
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It guides the buyer in getting the precise documents required and the conditions complied with it. It stipulates the liabilities and responsibilities of the Issuing Bank, Advising Bank, Confirming Bank, Negotiating Bank and Reimbursing Bank. UCPDC is applicable to all Documentary Credits including Standby letters...
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