The article provides a comprehensive analysis of international settlements by collection and documentary credit in the legal regulation of foreign economic transactions. Particular attention is paid to the issues of unification of legal regulation, application of the Uniform Rules of the International Chamber of Commerce, as well as conflict of laws aspects of determining the applicable law. It analyses practical problems and risks arising in the implementation of international settlements, as well as prospects for improving the national legislation of the Republic of Uzbekistan, taking into account international standards and modern trends in the digitalisation of trade.