"It was a wonderful experience interacting with you and appreciate the way you have planned and executed the whole publication process within the agreed timelines.”
Subrat SaurabhAuthor of Kuch Woh Pal
If you think that the rules of the International Chamber of Commerce (ICC), Paris on trade finance and documentary credits have no surprises left for you, then read this book very carefully from cover to cover. Whether you are a trade finance veteran or a recent entrant, the articles in this book will provide you with a few unconventional and unusual perspectives about the UCP and the ISBP rules.
The book discusses selected provisions of UCP 600, and also raises several pertinent questions. For example, does the SWIFT MT700 really provide for an expiry date? Is article 15 necessary? Why shouldn’t UCP sub-article 16(f) apply to a nominated bank? Did you know that UCP article 10 on amendments has a huge logical error? Why are some critical rules missing in the UCP (they are only in the ISBP)? Are you aware that sub-articles 14(g), and 14(h) on non-documentary conditions, are both incorrectly structured? Which ICC ‘rules’ apply if a presentation contains only copies of transport documents? Must a B/L or a MMTD show a date of issue? What is ‘negotiation’? Why is the place where a credit is available of critical importance to an exporter/beneficiary?
Go ahead and read the book. It will provide you with plenty of food for thought, a deeper understanding of the rules of trade finance, and value for money.
RUPNARAYAN BOSE
Rupnarayan Bose was with the State Bank of India for the major part of his professional career. Later, he served as the Managing Director of Fina Bank Ltd., Nairobi (Kenya) and of TransAfrica Bank Ltd., Kampala (Uganda), before returning to India to pursue his interests in academics.
Presently, his areas of interest are export-import trade rules and procedure, the rules of the International Chamber of Commerce (ICC), Paris. He has authored several books on international trade, of which his latest, “Letters of credit: Theory and practice” has received worldwide acclaim. A large number of his articles on international trade and other topics have been published in reputed journals in India and abroad. He delivers lectures on settlement risk management, documentary credits, the Incoterms rules, guarantees, exchange risk management etc. at various forums in India and overseas.
He is a visiting faculty at the Indian Institute of Foreign Trade, and is a member of the Board of Studies at Netaji Subhas Open University (Govt. of WB). He is fully engaged in his passions for writing, sharing his knowledge of trade finance as a faculty and trainer, and in travelling.
