Federal Reserve Bulletin Volume 7

Federal Reserve Bulletin Volume 7

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...receipt but only because the steamer space was unavailable when merchandise was ready." (e) "We have required in the past letters of credit to be opened against warehouse receipts, especially during unsettled, congested, or embargoed shipping conditions." Presentation of shi 'ng documents.-(f) "Letters of credit have been usedpbiy us on export transactions most freguently on the basis of f. o. b and . 1. f. shipments, an we require advice of the opening of letter of credit in our favor before delivery of goods to steamer. However, our requirement of a letter of credit before delivery of merchandise to the steamer is subject to the moral risk and past experience with the particular consignee, and at times when we are satisfied that acredit will be opened, due to our receiving cable advices to that effect, goods are delivered to the steamship companies in order to catch a particular steamer previous to receipt of advice of openin of letter of credit in our favor." (g) ' On f. a. s. and f. . b. and c. and f. and c. i. f. basis in the case of export transactions, it is not absolutely necessa to have the relative credits available before ocean b' ls of lading and insurance certificates are obtainable, provided we, as shippers, are informed that the credit in question will be 0 1106. It is of course much safer to have the actual cre it in hand before purchasing merchandise, or engagin freight and insurance but this largely depends upon t e circumstances of the entire transaction." The letter of credit is not extensively used to finance imports, but when so a lied the terms are mainly f. o. b. and c. i. f. hen a letter of credit has been issued in favor of the seller, payment may be made...show more

Product details

  • Paperback | 832 pages
  • 189 x 246 x 42mm | 1,456g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236824954
  • 9781236824950