How to Make Money Without Money: The Art of Transferable Letters of Credit and Assignments of the Proceeds [Paperback]

Jacob Katsman (Author)

Book Description

Publication Date: March 1999

How to Make Money Without Money : The Art of Transferable Letters of Credit and Assignments of Proceeds teaches how to use accepted banking instruments such as transferable letters of credit, back-to-back credits, and assignments of proceeds. The book shows how to make use of the buyer's funds to finance trade without investing in inventory or putting up any type of security, in essence, making money without money.

Through the use of real life case studies the book uncovers the secrets of success in the international trading business. Actual letters of credit and bank guarantees are reprinted, together with fax correspondence between companies concluding import/export transactions, to give the reader practical experience. For newcomers to international trade the book will serve as a reference guide to Contracts, Incoterms, Export Documentation, and UCPDC 500. For those who are already involved in international trade, reading the book will give a better insight into the structure of complex documentary credit transactions.

The book is written from a strictly practical perspective. If you have ever dreamed of making millions in international trade, this book may be the most important purchase of your life.

--This text refers to an out of print or unavailable edition of this title.

Editorial Reviews

Review

"How to Make Money Without Money The Art of Transferable Letters of Credit and Assignments of Proceeds is certainly a valuable reference book for specialists or non-specialists on the subject of letters of credit. The amount of information contained in the book is considerable for people wishing to better understand the particulars of trade finance techniques." -- Raoul Gisler First Vice President, Head of Trade and Commodity Finance Swiss Bank Corporation, Geneva

"How to Make Money Without Money provides enlightening reading on the subject of letters of credit. This book is not only a worthwhile introduction to the pitfalls awaiting the lay trader starting his business, but also gives a step by step guide to the execution of trade transactions." -- D. Paul Schuilwerve Director, Trade & Commodity Finance MeesPierson NV, London

"This book gives a real trader's perspective on the world of trade finance from the signing of the deal to the realization of profit, outlining the pitfalls that await the novice and experienced trader." -- Michael Rolfe Commodity Banker Credit Agricole Indosuez

"This book gives a smooth and interesting introduction to the domain of letters of credit for new and experienced traders alike." -- Antoine Lolas Manager, Documentary Credits Royal Bank of Canada

"This book is a real treasure and offers top-level guidance for all people involved in international trade finance." -- Pierre-Olivier Fragniere Head of Trade and Commodity Finance Banque Nationale de Paris, Geneva --This text refers to an out of print or unavailable edition of this title.

About the Author

JACOB KATSMAN started to trade internationally in 1987 when Mikhail Gorbachev opened the iron curtain to the West. He gained experience in trade finance and letters of credit while working for trading companies in Canada, Russia, China, and Belgium. Katsman's focus markets for the last ten years have been the former Soviet Union and Asia. He has exported brick-making equipment, automobiles, tires, electronics, coffee, and cognac to these markets, and imported ferrous and non-ferrous metals. To this day Katsman is involved in international trade and continues to use various forms of letters of credit and bank guarantees in his daily business.

Partly a reference book on letters of credit, partly a how-to book filed with trading anecdotes, How to Make Money Without Money brings to life a topic that has never before been shared with the public in this manner. No other book goes into such detail on the subject of how to use transferable letters of credit and assignments of proceeds to make money. Financing techniques known primarily by Chief Financial Officers of multinational corporations are brought together in this book in simple language for anyone to understand.

Katsman is a cofounder of the Continental Commodity Exchange, a real time commodity exchange on the Internet. --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Paperback: 255 pages
• Publisher: Continental Pub (March 1999)
• Language: English
• ISBN-10: 0968319815
• ISBN-13: 978-0968319819
• Product Dimensions: 9.5 x 6 x 0.8 inches
• Shipping Weight: 1 pounds
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,521,767 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars A great how to manual, November 26, 2001

By 

Bellas Dad "dg" (West Vancouver, British Columbia Canada) - See all my reviews

This review is from: How to Make Money Without Money: The Art of Transferable Letters of Credit and Assignments of the Proceeds (Paperback)

For those thinking about treading the water as a trading company or for those who work in the industry, this book is absolutely superb at offering specific case studies and detailed resolutions for each case. It includes even the faxes and email communications that happened verbatim, and certainly gives one a level of understanding of the complexity involved in moving goods between countries. Worth the time for anyone interested in international trade.