The need for speed: Court of Appeal interprets UCP 600
Shipping and Trade Law, 11, (3), .
Full text not available from this repository.
Under art 16(c) of UCP 600, issuing or confirming banks must serve notice in case of non-compliance between the documents tendered by the seller and the letter of credit. The notice needs to specify any discrepancies and the documents should be returned to the seller, although art 16 is silent in relation to timing. Confirming the first instance judgment, the Court of Appeal in Fortis Bank SA/NV v Indian Overseas Bank  EWCA Civ 58 re-emphasised the importance of a prompt return of documents to sender.
Actions (login required)