For the first time, after almost 80 years of uninterrupted disputes surrounding the institution of "secured credit," this book by the associate professor of Law at the Aristotle University of Thessaloniki, Sp. Psychomanis, vividly highlights the correct dimension of the issue.

Secured credit is not identical to credit against documents, as was previously believed. The provisions of Articles 25 et seq. of the legislative decree of July 17, 1923, prove to be inadequate to serve as a broader regulation even of secured credit itself. The Uniform Rules of the International Chamber of Commerce are thoroughly examined, proving to be mostly unnecessary and invalid.

All modern practices find, for the first time, legal processing and foundation even at an international level. The entire institution is analyzed without the distortions of the past.

Innovating and correcting, the author provides not only to science but primarily to practice, a highly valuable model aid for the correct understanding of the institution, which undoubtedly promotes justice and security in banking transactions, essential for every legal scholar, in legal practice, for judges, banks, exporters, and importers.