A letter of credit contract and a collection contract

A letter of credit contract and a collection contract This final thesis is focused on two important payment instruments - the letter of credit and the collection. The aim of this thesis is to analyze the letter of credit and the collection. Its main target is to describe both payment instruments and to introduce their use in real life situations and to point out advantages and disadvantages of both instruments. Both domestic and international legal arrangements as well as expert literature and articles were used to write the thesis. As a main source was used Commercial Code and unification of trade customs by the International Chamber of Commerce. The thesis is divided in 5 chapters which furthermore divide themselves into several more subchapters. Because of the fact that contract on the letter of credit and the contract on collection are fundamental for the creation of commercial law obligation the first chapter discusses the general characteristics of commercial obligations from the point of view of the Civil Code and from the point of view of the Commercial Code. Furthermore the letter of credit and the collection are one of the many of bank contracts and these are explained in detail in the second chapter. The bank itself is a party to such contracts and that is why a lot of attention is paid in the..