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YYYY
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Joined: 17 Jan 2011
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Posted: 06 May 2012 at 12:42 \| IP Logged

Letter of credit is commercial paper?
According to the Wiki, "CP is a lower cost alternative to a line of credit with a bank".

Commercial Paper(Article 3):

Note
Draft
Check
Certificates of deposit

That's all?
Bond, stock(Article 8), bills of lading, and warehouse receipts(Article 7) are not commercial paper.

musicamor04
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Posted: 07 May 2012 at 16:24 \| IP Logged

Yes, LOCs are commercial paper because they are negotiable time drafts.

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YYYY
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Posted: 08 May 2012 at 21:51 \| IP Logged

musicamor04 wrote:

Yes, LOCs are commercial paper because they are negotiable time drafts.

Thanks!!

bella
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Posted: 14 May 2012 at 12:49 \| IP Logged

Bills of lading and warehouse receits ARE commercial paper.

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bella
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Posted: 16 May 2012 at 12:16 \| IP Logged

Just want to clarify my prev post. Bill of lading and WH receipt are documents of title, but they can also be called commercial paper because of their negotiability.

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