Talk:Letter of credit/Archives/2017

Definition
I undid a recent addition to the L/C definition - A Letter of Credit can be used to pay any amount of money up to the value of the credit, and at any time up to and after the expiry of the credit (depending on the payment terms mentioned in the credit). Tightening the definition in the way that the change did doesn't aid clarity, and in my opinion could add to a misunderstanding of this method of payment. It's important that those points are made in the article, but given that there is a lot of confusion over letters of credit in the business world I think it's important to make the opening definition as simple as possible. JN5556649 (talk) 20:56, 6 April 2017 (UTC)

History, add please!
I'd like to know the history of letters of credit. When was the first one issued ever, where, by who, how did the market grow. — Preceding unsigned comment added by 187.210.189.240 (talk) 04:42, 19 May 2017 (UTC)

Article is a real disaster
How on earth someone can affirm that “In a Letter of Credit transaction the goods are consigned to the order of the issuing bank, meaning that the bank will not release control of the goods until the buyer has either paid or undertaken to pay the bank for the documents” Shame on the people that has altered this page with so my wrong information. I can see how some people has been trying to self-promote their own interest here. Please, the spirit of Wikipedia has been vandalize here. The hole page deserve to be delete and star as simple as is in Spanish.

No discussion of personal letters of credit
The article more or less ignores the private letter of credit (usually termed a "circular letter of credit") that was widely used by well off travelers in the pre-ATM world. For a good primer on the subject I would look at The Circular Letter of Credit. Unfortunately I do not believe the site would meet the standards at WP:RS. -Ad Orientem (talk) 00:18, 4 April 2016 (UTC)
 * I have created an article on this topic. -Ad Orientem (talk) 19:13, 27 September 2017 (UTC)