Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Uniform Customs and Practice for Commercial Documentary Credits
A publication of the International Chamber of Commerce that codifies widespread customs of bankers and merchants relating to the mechanics and operation of letters of credit. 0 Courts look to this publication to supplement and help interpret primary sources of credit law, such as UCC Article 5. - Abbr. UCP.
documentary credit
1. Credit extended on a document of title or any other legal document. 2. A financing arrangement in which a financial institution authorizes or makes a payment to a third party (usu. an exporter) at a customer's request. 0 This financing method facilitates international transactions by providing the importer with necessary credit and the exporter with an expedited cash payment.