Bank's post-notice obligations in the documentary credits under UCP600
Bank's post-notice obligations in the documentary credits under UCP600
This paper aims to systematically analyse the bank's post-notice obligations in a documentary credit under the framework of UCP600. The paper not only reviews the recent developments in the English court - Fortis Bank & Stemcor v Indian Overseas Bank ([2010] EWHC 84 (Comm); [2011] EWCA Civ 58; [2011] EWHC (Comm) 538), but also examines the methods adopted by the courts to interpret the UCP provisions. Meanwhile, in relation to this case, other useful methods which may effectively explain the bank's obligations are also referred to in this paper. In addition, the paper addresses other important issues concerning the bank's post-notice obligations which are partly ignored by the UCP and the case law, such as the condition of the returned documents. Moreover, some feasible suggestions are put forward in this paper relating to each aspect of the bank's obligations, so as to achieve the purpose of supplementing this incomplete area under UCP600 as well as directing the market practitioners.
193-205
Zhang, Jingbo
e8b341f5-8100-400b-aa31-dc6dea7dc16d
2013
Zhang, Jingbo
e8b341f5-8100-400b-aa31-dc6dea7dc16d
Zhang, Jingbo
(2013)
Bank's post-notice obligations in the documentary credits under UCP600.
International Journal of Private Law, 6 (2), .
(doi:10.1504/IJPL.2013.053014).
Abstract
This paper aims to systematically analyse the bank's post-notice obligations in a documentary credit under the framework of UCP600. The paper not only reviews the recent developments in the English court - Fortis Bank & Stemcor v Indian Overseas Bank ([2010] EWHC 84 (Comm); [2011] EWCA Civ 58; [2011] EWHC (Comm) 538), but also examines the methods adopted by the courts to interpret the UCP provisions. Meanwhile, in relation to this case, other useful methods which may effectively explain the bank's obligations are also referred to in this paper. In addition, the paper addresses other important issues concerning the bank's post-notice obligations which are partly ignored by the UCP and the case law, such as the condition of the returned documents. Moreover, some feasible suggestions are put forward in this paper relating to each aspect of the bank's obligations, so as to achieve the purpose of supplementing this incomplete area under UCP600 as well as directing the market practitioners.
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Published date: 2013
Organisations:
Southampton Law School
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Local EPrints ID: 358348
URI: http://eprints.soton.ac.uk/id/eprint/358348
ISSN: 1753-6235
PURE UUID: 609c3431-8c9c-4f5f-a1d2-2094671793ec
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Date deposited: 10 Oct 2013 12:18
Last modified: 14 Mar 2024 15:03
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