The Law of Letters of Credit and Bank Guarantees

The Law of Letters of Credit and Bank Guarantees

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The aim of this book is to present the Australian law of letters of credit and bank guarantees. It inexorably presents overseas literature as well because the subject is by nature international and comparative, and Australian courts readily cite overseas literature, particularly from the United States, England and Canada. Hence the book focuses on the available Australian literature and utilizes some limited overseas authorities which make Australian law whole and the book more understandable. - From the PrefaceAUTONOMY OF THE LETTER OF CREDIT PROMISE A fundamental principle in letter of credit law is the autonomy of the ... be based and banks are in no way concerned with or bound by such contract(s), even if any reference whatsoever to such contract (s) is included in the credit. ... the right documents are tendered.70 Thus, for example, an exporter of goods cannot compel a bank to honour a demandanbsp;...

Title:The Law of Letters of Credit and Bank Guarantees
Author:Agasha Mugasha
Publisher:Federation Press - 2003-01


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