International Encyclopedia of Comparative Law Online

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I. Introduction
(5,755 words)

Volume IX: Commercial Transactions and Institutions | Chapter 5 (1980): Letters of Credit

Completed in September 1978

Boris Kozolchyk

A. Basic Concept and Antecedents

1. Brief history. – The commercial letter of credit is one of the most commonly used financing and payment devices in international trade.1 As an integral component of international marketing and financing arrangements its fate seems ti…

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Boris Kozolchyk, “I. Introduction”, in: International Encyclopedia of Comparative Law Online, Edited by: U. Drobnig, R. David, H. H. Egawa, R. Graveson, V. Knapp, A. T. Von Mehren, Y. Noda, S. Rozmaryn, V. M. Tschchikvadze, H. Valladão, H. Yntema, K. Zweigert. Consulted online on 25 January 2022 <>
First published online: 2018

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