3o 4 SELLING LATIN AMERICA 
named in the Letter of Credit, by means of 
sight or time drafts. Customary means to pre 
vent forgery of the holder’s signature are pro 
vided. 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 advis 
able to have two different Letters of Credit, 
one in Pounds Sterling and the other in Dol 
lars. In Central America, Venezuela, Co 
lombia, the British, Dutch and Danish West 
Indies it is often more advantageous to use dol 
lars when buying exchange or getting cash on 
the Letter of Credit, while in Chile, Argen 
tine, Brazil and Uruguay, pounds sterling are 
better. Before selling exchange on your Let 
ter of Credit or realizing money on it, al 
ways visit the banks and see which one offers 
the best rate and whether English or Ameri-