Abstract
1. Importance of shipping documents which should accord with the terms of the letter of credit for the collection of payment through negotiation with the concerned banks and treatment of the shipping documents which are not in accordance with the terms of the letter of credit; 2. Function of the bill of lading and air way bill in negotiating with the bank; 3. Contractual function of commercial invoices in letter of credit transactions; 4. Nature of the bill of exchange from the viewpoint of facilitation of international trade; 5. Proceedings of transactions through bills of exchange under the documentary letter of credit; 6. Treatment of documents delivered contrary to instructions under the terms of letter of credit; 7. Characteristics of the letter of credit from the viewpoints of the exporter and importer.
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