Overview

Examines the criteria used to determine the law relating to disputes over letters of credit, where several parties are involved and each is situated in a different jurisdiction with no choice of law specified. With letters of credit, there are usually at least four parties involved, namely the buyer-applicant, the bank issuing the letter of credit, the seller beneficiary, and the correspondent bank confirming and advising or negotiating the letter of credit. These parties may often be situated in different jurisdictions, having different laws both in substance and procedure. Furthermore, when incorporated, the letters of credit are governed by the Uniform Customs and Practice for documentary credits (UCP). While the UCP is a set of rules and practices on the use of letters of credit, this particular codification does not offer solutions in the absence of a choice of law to the problem of conflict of laws over disputes involving letters of credit. The book contains a particularly useful documents section, which includes the UCC rules and samples of letters of credit.

Full Product Details

Author:   Audi Gozlan
Publisher:   Kluwer Law International
Imprint:   Kluwer Law International
Edition:   2nd ed.
Dimensions:   Width: 15.60cm , Height: 2.10cm , Length: 23.00cm
Weight:   0.658kg
ISBN:  

9789041107237

ISBN 10:   9041107231
Pages:   336
Publication Date:   01 March 1999
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

1: Relationships and Connecting Factors Related to a Letter of Credit Transaction. 1.1. Operation of the Letter of Credit. 1.2. Relationships Developed in a Letter of Credit Transaction. 1.3. Connecting Factors Relevant to Letter of Credit Transactions. 2: Conflict of Law Rules. 2.1. General Rules of Conflict of Laws in Contracts. 2.2. Conflict of Law Rules in Matters of Letters of Credit. 3: Specific Criteria as a Solution to Conflicts of Laws in Matters of Letters of Credit. 3.1. Application of the Law of the Site of Issue. 3.2. Application of the Law of the Site of Performance of Payment. 3.3. General Comments on Case Study: Applying the Law of the Site of Issue and the Site of Payment. 3.4. Proposed Method to Evaluate Specific Criteria. Conclusion. Glossary. Appendix 1: The Chuidian Judgment. Appendix 2: Charts. Appendix 3: Uniform Customs and Practices. Appendix 4: UCC. Appendix 5: Sample List of Credit Documents. Appendix 6: Letter of Credit Checklists.

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