3o 4  SELLING  LATIN  AMERICA
named  in  the  Letter  of  Credit,  by  means  of
sight  or  time  drafts.  Customary  means  to  prevent ­
  forgery  of  the  holder’s  signature  are  provided. ­
  On  presenting  this  document  to  the
bank’s  foreign  correspondent,  the  sum  desired
is  advanced  in  the  money  of  the  country  or  in
the  monetary  terms  expressed  in  the  Letter  of
Credit.  These  Letters  of  Credit  are  always
time  limited  and  are  made  against  cash  or
some  suitable  guarantee  to  the  bank  issuing
them.
In  traveling  in  South  America  it  is  advisable ­
  to  have  two  different  Letters  of  Credit,
one  in  Pounds  Sterling  and  the  other  in  Dollars. ­
  In  Central  America,  Venezuela,  Colombia, ­
  the  British,  Dutch  and  Danish  West
Indies  it  is  often  more  advantageous  to  use  dollars ­
  when  buying  exchange  or  getting  cash  on
the  Letter  of  Credit,  while  in  Chile,  Argentine, ­
  Brazil  and  Uruguay,  pounds  sterling  are
better.  Before  selling  exchange  on  your  Letter ­
  of  Credit  or  realizing  money  on  it,  always ­
  visit  the  banks  and  see  which  one  offers
the  best  rate  and  whether  English  or  Ameri-