Digitalizing Letters of Credits: legal and Technical Challenges and Potential Solutions

In recent years, despite the achievement of many advances in the field of technology and the expansion of communication networks, the use of paper letters of credit is still common. Compared to other payment methods, with the approval of the uniform regulations of electronic letters of credit known as) EUSP (, steps have been taken to encourage merchants and banks to use electronic letters of credit. Some legal ambiguities in) EUSP (have caused letters of credit Electronics do not have a place in international trade. In this article, an attempt has been made to an analytical-comparative approach concerning the uniform regulations of electronic letters of credit and technical issues regarding the identification of barriers to the expansion of electronic letters of credit in international business activities, and suggestions should be made to remove the mentioned obstacles. By creating a comprehensive exchange system, electronic documents based on cloud computing and the term (ESUP) can be used to overcome the challenges. In front of the expansion of electronic letters of credit, it prevailed