Documentary credits and the necessity of recognition of some legal and financial aspects in their use of the Albanian traders

Abstract

Abstract  
In the last decade, the internationalization process included widely the Albanian businesses, which work in many 
parts of the world and in particular in those countries where, until a few years ago there was no commercial 
relationship. This process requires from businesses to have organization and sufficient financial means to meet 
various distant markets. This leads to the further development of the use of International Payments, namely 
those forms of payment in which the bank plays a fundamental role, in particular the letters of credit. Elements 
and concepts of the letters of credit are governed by Same Rates and Uses the of the International Chamber of 
Commerce in Paris (ICC), which are related to “Documentary Credits”, more detailed by Publication 500, where 
there were underlined the principal differences of the two main instruments: letter of credit and international bank 
guarantees. 
Regarding the review of the letter of credit and international bank guarantees the perspective of this study will be 
that of the exporter.