Documentary Credits: Law and Practiceis an authoritative text dealing with the law relating to documentary credits in both an English and international context.
This new book provides:
- practical information on the law of documentary credits
- a detailed examination of the fundamental concepts of the documentary credit regime including:
- the principle of autonomy
- the doctrine of strict compliance
- the ‘fraud exception’
- critical analysis of the English position by reference to decisions of other jurisdictions
Whilst concentrating on the most common forms of documentary credit governed by the UCP 500 such as letter of credits and standby letters of credit, this book also covers other forms such as demand guarantee bonds.
A distinctive feature of this book is its comparative law element. It draws heavily upon the decisions of other jurisdictions (both common law and civil law) to highlight the benefits of alternative solutions to the ones favoured by the English courts and to consider problem areas identified by other jurisdictions.