Subjects:

Banking and Finance

Contents:

Introduction.

Types of documentary credits.

The buyer and seller.

The applicant and the issuing bank.

The contracts of the issuing bank and the confirming bank with the seller.

The correspondent bank.

The collecting bank and the negotiation bank.

The documents and their examination.

Fraud and injunctions.

Transfer and assignment.

The bank's security.

Standby credits, and demand guarantees and bonds.

Conflict of laws, illegality and exchange control, sovereign immunity.

Appendices.

Out of Print Documentary credits are in wide use as a means of securing payment of international trade transactions. This practical work offers a lucid and comprehensive account of the workings of documentary credits in the context of English law and under international banking practice as applied in England.

Written from the perspective of banking practices as well as the law, the text fully considers the Uniform Customs and Practice for Documentary Credits and refers to opinions of the ICC Banking Commission as well as to all relevant decisions of the courts.