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This book provides a thorough and critical analysis of the law relating to documentary credits, and in particular, of the operation of the UCP 500, as well as the law relating to those documentary credits that fall outside the scope of these rules. This book offers a comparative analysis based on key decisions that have been made outside UK jurisdiction.
This book is ideal for legal practitioners working within the banking and commercial sectors, as well as academics and those working within the banking sector.
List of contents
Chapter 1. Introduction to Documentary Credits Chapter 2. The Uniform Customs and Practices for Documentary Credits Chapter 3. Classification of Letters of Credit Chapter 4. Relationship between Applicant and Beneficiary Chapter 5. Relationship Between Applicant and Issuing Bank Chapter 6. Relationship between the Issuing Bank and Beneficiary Chapter 7. The Correspondent Bank Chapter 8. The Collecting Bank and the Negotiating Bank Chapter 9. The Tender and Examination of Documents under Credit Chapter 10. The Principles of Autonomy and its Limits Chapter 11. Transfer of Credits and Assignment on Proceeds Chapter 12. The Bank's Security Chapter 13. Default Undertakings: Standby Letters of Credit, Performance Bonds and First Demand Guarantees Chapter 14. The Conflict of Laws in Documentary Credit Transactions
Summary
Dealing with the law relating to documentary credits in both an English and international context, this book provides information on the law of documentary credits; and an examination of the fundamental concepts of the documentary credit regime including: the principle of autonomy; the doctrine of strict compliance; and the 'fraud exception'.
