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Outline of International Business Transactions law PART I: OVERVIEW OF INTERNATIONAL SALE OF GOODS 1) INTERPRETATION OF COMMERCIAL TERMS See Incoterms 2) DOCUMENTS OF TITLE Steps of a Unconfirmed Letter of Credit applied to hypo and “Payment with LOC” chart on LOC flow chart: 1) Value Industries (buyer-applicant) and Globo Industries (seller-beneficiary) K for payment…