Standby letters of credit

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Bookweight -
By Statement Jacob E. Sifri.
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Dewey Decimal Class 332.7/42
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Isbn10 0230212182
Isbn13 9780230212183
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Languages /languages/eng
Latest Revision 8
Lc Classifications HG3745 .S54 2008
Lccn 2008015910
Location -
Notes Includes index.
Number Of Pages 234
Ocaid standbyletterscr00sifr
Oclc Number 222250619
222250619
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Pagination xv, 234 p. :
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Publish Country enk
Publish Date 2008
Publish Places Basingstoke [England]
New York
Publishers Palgrave Macmillan
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Revision 8
Series Finance and capital markets series
Finance and capital markets
Source Records marc:marc_loc_updates/v36.i45.records.utf8:6185436:870
marc:marc_loc_updates/v36.i15.records.utf8:10826835:680
marc:marc_loc_updates/v37.i35.records.utf8:52496346:965
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Subjects Letters of credit
Subtitle a comprehensive guide
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Title Standby letters of credit
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Additional Info


Standby letters of credit
Authors Jacob E. Sifri
Average Rating -
Categories Business & Economics
Content Version preview-1.0.0
Description This authoritative reference book gives thorough, practical guidance for anyone who needs to deal with standby letters of credit either professionally or academically. Augmented with examples of numerous real-life cases, the book addresses the exact procedures undertaken by global banks in handling letters of credit transactions whilst incisively providing an article by article interpretation of the ISP98. Furthermore, the book explains the credit operation cycle, the various parties to the credit transaction, types, uses -with special emphasis on tender and performance standby letters of credit– roles, responsibilities of the parties to the transaction, risk management and fraud prevention. The book literally provides all the tools needed to deal not only with routine problems but also with unforeseen difficulties whether at clerical, middle management or senior management level. Commercial/Financial fraud detection and prevention is an issue that is decisively addressed in Chapter 15 which tackles the types of fraud the bank frequently encounters whilst conducting its trade finance operations. The Author quotes several examples of fraudulent transactions and pinpoints the operational gaps the fraudsters often use to penetrate the bank’s safeguards and execute their crimes. The Author also tackles “organized crime” in banking operations whilst precisely explaining the techniques the banks must follow and safeguards they must place in order to detect and prevent these destructive fraud crimes. Risk Management in trade finance operations is another major concern of the international banking community. This concern is comprehensively addressed in Chapter 14 which warns that the methods commonly used by banks to effectively manage risks vary from one country to another according to the specificities of the socio-political environment; methods of trade finance risk mitigation described in general texts could turn to be invariably useless and any attempt to apply abstract theories and academic discussion can be not only a value destroyer but also a dangerous process. The chapter then proceeds to emphasize the importance of understanding the bank’s specific operational environment and base its risk management approach on the operational history of the bank and its working environment. It continues by identifying the exact risks the bank faces in a standby letter of credit transaction and finally, the Chapter tackles the three approaches banks follow in managing their operational trade finance risks, namely “Operational Risks Correlated to Volume”, “Value at Risk Analysis (VAR)” and “The Distribution of Loss Measure".
Language en
Maturity Rating NOT_MATURE
Page Count 256
Print Type BOOK
Published Date 2008-06-15
Publisher Palgrave Macmillan
Ratings Count -
Subtitle A Comprehensive Guide
Title Standby Letters of Credit
ISBN_100230212182
ISBN_139780230212183

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