Payment Undertakings
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THE PAYMENT UNDERTAKING
BASED ALTERNATIVE PAYMENT SECURITY
** AN EXPLANATION **

RON WELLS

Contents:

1. Introduction.

2. Historical Development of Payment Undertakings.

3. Utilising Payment Undertakings as a Foundation for an Alternative Form of Payment Security.

4. The ‘Payment Undertaking Alternative’ Process.

5. Negative Points.

6. Positive Points.

7. Summary.

Appendix I (Payment Undertaking format)


Introduction:

The Payment Undertaking based arrangement described in these notes offers a viable and flexible alternative to payment security based on either;

Documentary Credits (including Standby Letters of Credit) or

Domestic Bank Guarantees or

Promissory Notes.

Please click on the following link if you wish to obtain a copy of this seven page, detailed 'how to' step by step guide:

http://www.barrettwells.com/estorebwb.html

 

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Last Updated:  February 03, 2020 15:45 -0000