About document presentation in letters of credit in digital form

Abstract

 Information technology has significantly changed the practice of international trade finance in the field of monetary transactions. The article examines the international rules for electronic presentation of documents in a letter-of-credit in the light of adoption of the eUCP v. 2. 0. The main characteristics of electronic  records submitted under a letter of credit are formulated, and the  method of their authentication is determined. The practice of transferring of electronic documents for payment is analyzed, and the specific features of their examination are considered. The importance of transition to electronic document management, which will speed up trading operations  and reduce  their cost, was noted. It is concluded that at the present stage of development, the transition to full electronic document management is difficult due to the involvement of a large number of participants who are reluctant to use electronic records to formalize their relationships in trade operations, in addition to banks.