Download or read book Keys to Understanding Documentary Letters of Credit written by Cornelio (Onnie) A. Sumangil and published by LULU. This book was released on 2014-10-23 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Successful overseas sales can open windows of opportunities for international business, allowing companies to grow and substantially increase profits. Documentary letters of credit is one of the most secure payment instruments available to ensure each transaction goes smoothly. Unfortunately, it can also be one of the most complex and technical processes related to cross-border transactions. Cornelio (Onnie) Sumangil relies on more than forty years of experience in international trade banking to help others better understand a documentary letter of credit, how it works, and its purposes. Sumangil provides a roadmap that leads both novice and seasoned cross-border traders through a step-by-step process from analyzing and negotiating the terms and conditions of a transaction to securing a payment at the end of the process. Included is relevant information on negotiation credits, types of time payments, ways to resolve discrepancies, and how to select a high-quality international bank.