Chapter5 means of international settlementⅠis to make a payment to or to the order of a third party (the beneficiary), or is to accept and pay bills of exchange drawn by the benefici
ary; Ⅱauthorizes another bank to effect such payment or to accept and pay such bills of exchange; Ⅲauthorizes another bank to negotiate, against stipulated documents, provided that the terms and conditions of the credit are complied with.
