Ակրեդիտիվով կատարվող հաշվարկների հիմնախնդիրները և դրանց լուծման ուղիները/Main Problems of Settlements by Letters of Credit and Ways of Their Solution

Abstract

The development of economic relations and, at the same time, their complication, leads to the replacement of simple payment instruments with more complex and interesting instruments. It is noteworthy that this fact creates both opportunities and a number of problems. One of the most complex payment instruments is a letter of credit, settlements with which have both advantages and disadvantages. The paper reveals both economic and legal features of a letter of credit. Much attention is paid to the essence of the letter of credit, the legislative gaps related to the regulation of the letter of credit, which were identified as a result of comparing the relevant articles of the Civil Codes of the Republic of Armenia and the Russian Federation. As a result of studying foreign and domestic literature, the legal nature of a letter of credit, the terms of payment under a letter of credit, the types of obligations under a letter of credit, and their features were identified.