THE LAW AND PRACTICE OF DOCUMENTARY LETTERS OF CREDIT
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- Author: PETER ELLINGER AND DORA NEO
- ISBN: 9781841136738
- Availability: In Stock
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Buy THE LAW AND PRACTICE OF DOCUMENTARY LETTERS OF CREDIT | Law Books , FOREIGN BOOKS
Letters of credit have retained their role as an
instrumentality for the financing of foreign trade. An understanding of the law
and practice in point is imperative for lawyers advising business people and
bank clients, as well as for the banking and trading communities. The book
examines the topic on the basis of the common law system, primarily UK law, and
adopts an approach that is analytical and not merely descriptive. Letter of
credit transactions are, by their nature, international and most nations have
adopted the Uniform Customs and Practices ("UCP") originally
promulgated by the International Chamber of Commerce (ICC) in 1933 and updated
from time to time. Today, the UCP constitutes a code of internationally
accepted rules governing letter of credit transactions. The authors have
therefore selectively incorporated some comparative discussion, for instance, of
the position in the USA and Europe. The book will be an essential work of
reference for commercial lawyers in all the major financial centres of Europe,
America and Asia.