Trade Finance Practice and Principles

Documentary Credits: Law and Practice is an authoritative text dealing with the law relating to documentary credits in both an English and international context. The book provides a detailed examination of the fundamental concepts of the documentary credi

Documentary Credits are the most common means by which international sale of goods contracts are financed, and are also one of the most commonly litigated aspects of international contracts. This book providesa thorough and critical analysis of the law relating to documentary credits, and in particular, of the operation of the UCP 500, as well as the law relating to those documentary credits that fall outside the scope of these rules. This book offers a comparative analysis based on key decisions that have been made outside UK jurisdiction. This book is ideal for legal practitioners working within the banking and commercial sectors, as well as academics and those working within the banking sector.

Chapter 1. Introduction to Documentary Credits Chapter 2. The Uniform Customs and Practices for Documentary Credits Chapter 3. Classification of Letters of Credit Chapter 4. Relationship between Applicant and Beneficiary Chapter 5. Relationship Between Applicant and Issuing Bank Chapter 6. Relationship between the Issuing Bank and Beneficiary Chapter 7. The Correspondent Bank Chapter 8. The Collecting Bank and the Negotiating Bank Chapter 9. The Tender and Examination of Documents under Credit Chapter 10. The Principles of Autonomy and its Limits Chapter 11. Transfer of Credits and Assignment on Proceeds Chapter 12. The Bank's Security Chapter 13. Default Undertakings: Standby Letters of Credit, Performance Bonds and First Demand Guarantees Chapter 14. The Conflict of Laws in Documentary Credit Transactions

Chris Hare is a CUF Lecturer in Law and a Fellow of Somerville College at the University of Oxford. Chris Hareinitially practiseda barrister (1998 Call) at 3 Verulam Buildings, where he specialised in banking law and law relating to documentary credits.