Payment Collection in International Trade

  • Eun Sup Lee

Learning Objectives

  1. 1.

    Importance of shipping documents which should accord with the terms of the letter of credit for the collection of payment through negotiation with the concerned banks and treatment of the shipping documents which are not in accordance with the terms of the letter of credit;

  2. 2.

    Function of the bill of lading and air way bill in negotiating with the bank;

  3. 3.

    Contractual function of commercial invoices in letter of credit transactions;

  4. 4.

    Nature of the bill of exchange from the viewpoint of facilitation of international trade;

  5. 5.

    Proceedings of transactions through bills of exchange under the documentary letter of credit;

  6. 6.

    Treatment of documents delivered contrary to instructions under the terms of letter of credit;

  7. 7.

    Characteristics of the letter of credit from the viewpoints of the exporter and importer.



International Trade Supra Note Insurance Document Trade Credit Expiry Date 
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  1. Chuah JCT (2009) Law of International Trade: Cross-Border Commercial Transactions. Sweet & MaxwellGoogle Scholar

Supplemental Reading

  1. Kouladis N (2006) Principles of Law Relating to International Trade. Springer, pp. 213–236Google Scholar
  2. Carr I (2007) International Trade Law, 3rd edn. Cavendish Publishing, pp. 57–100Google Scholar
  3. Wilson JF (2008) Carriage of Goods by Sea, 6th edn. Pearson Longman, pp. 113–172Google Scholar
  4. Folsom RH, Gordon MW, Spanogle Jr. JA, Fitzgerald PL (2009) International Business Transactions: Contracting Across Borders. West, pp. 52–110Google Scholar
  5. Honnold JO (2006) Sales Transactions: Domestic and International Law, 3rd edn. Foundation Press, pp. 502–607Google Scholar
  6. Fellmeth AX (2009) The Law of International Business Transactions. West, pp. 405–435Google Scholar
  7. DiMatteo LA, Dhooge LJ (2005) International Business Law – Transactional Approach, 2nd edn. West, pp. 290–323Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Eun Sup Lee
    • 1
  1. 1.Division of International TradePusan National UniversityPusanRepublic of South Korea

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