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International Letters of Credit : Resolving Conflict of Law Disputes :  Resolving Conflict of Law Disputes - Audi Gozlan

International Letters of Credit : Resolving Conflict of Law Disputes

Resolving Conflict of Law Disputes

Hardcover Published: March 1999
ISBN: 9789041107237
Number Of Pages: 336

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Disputes over letters of credit take on added complexity where several parties are involved and each is situated in a different jurisdiction with no choice of law specified. This work examines the criteria applied to resolve such a situation.Letters of credit usually involve at least four parties: (1) the buyer applicant, (2) the bank issuing the letters of credit, (3) the seller beneficiary, and (4) the corresponding bank confirming and advising or negotiating the letter of credit. It is not uncommon that these parties will be located in different jurisdictions with different substantive and procedural laws.Another twist: the Uniform Customs and Practice for documentary credits (UCP) governs the letters of credit when incorporated. While the UCP is a set of rules and practices on the use of letters of credit, this particular codification does not offer solutions to the conflict of laws problem in disputes over the use of letters of credit in the absence of an applicable choice of law provision. International Letters of Credit: Resolving Conflict of Law Disputes contains a particularly useful documents section which includes the UCC Rules and samples of letters of credit. Legal practitioners involved in financial and banking law or the settlement of disputes, financial institutions, and those in import and export will find this a useful resource on a complex but not uncommon issue.

Preface
Resume Francais
Table of Abbreviations
Introduction
Relationships and Connecting Factors Related to a Letter of Credit Transactionp. 1
Operation of the Letter of Creditp. 2
Relationships Developed in a Letter of Credit Transactionp. 4
Connecting Factors Relevant to Letter of Credit Transactionsp. 10
Conflict of Law Rulesp. 15
General Rules of Conflict of Laws in Contractsp. 15
Conflict of Law Rules in Matters of Letters of Creditp. 36
Specific Criteria as a Solution to Conflicts of Laws in Matters of Letters of Creditp. 45
Application of the Law of the Site of Issuep. 46
Application of the Law of the Site of Performance of Paymentp. 59
General Comments on Case Study: Applying the Law of the Site of Issue and the Site of Paymentp. 95
Proposed Method to Evaluate Specific Criteriap. 96
Conclusionp. 103
Glossaryp. 105
The Chuidian Judgmentp. 123
Chartsp. 129
Uniform Customs and Practicep. 143
UCCp. 187
Sample Letter of Credit Documentsp. 195
Letter of Credit Checklistsp. 263
ICC Uniform Customs and Practice for Documentary Creditsp. 267
Conventions, Statutes and Codes Citedp. 303
Articles and Works Citedp. 305
Jurisprudencep. 311
Indexp. 315
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9789041107237
ISBN-10: 9041107231
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 336
Published: March 1999
Publisher: Kluwer Law International
Country of Publication: NL
Dimensions (cm): 23.0 x 16.51  x 2.54
Weight (kg): 0.75
Edition Number: 2