If your international transactions involve the payment, receipt or transfer of money, this book will prove indispensable. Described in detail are the four primary payment methods: documentary letters of credit, documentary collections, pre-payment and credit transactions. Step by step instructions, accompanied by skillfully designed illustrations, are provided for both standard and special letters of credit, including revocable and irrevocable, confirmed and unconfirmed, back-to-back, deferred payment (usance), red clause, revolving, standby and transferable types. This book introduces each party to each transaction, contains lists of what can go wrong and provides solutions for common problems. The book is an excellent training tool for traders, bankers and brokers.