The Mechanics of Refusal in Documentary Letter of Credits: An Analysis of the Procedures Introduced in Article 16 UCP 600

TY - JOUR

T1 - The Mechanics of Refusal in Documentary Letter of Credits

T2 - An Analysis of the Procedures Introduced in Article 16 UCP 600

AU - Hwaidi, Mohd

AU - Harris, Brian

PY - 2013

Y1 - 2013

N2 - Examines the effect under English law of the changes to the documentary credit refusal procedures under the Uniform Customs and Practice for Documentary Credits 2007 (UCP 600) art.16. Outlines the art.16 rules on the requirements for a refusal notice, the circumstances triggering the requirement to return documents, and the time period for giving a refusal notice. Considers the likely consequences of these new refusal formalities, particularly in the light of the guidance on the construction of UCP 600 provided by the Court of Appeal judgment in Fortis Bank SA/NV v Indian Overseas Bank.

AB - Examines the effect under English law of the changes to the documentary credit refusal procedures under the Uniform Customs and Practice for Documentary Credits 2007 (UCP 600) art.16. Outlines the art.16 rules on the requirements for a refusal notice, the circumstances triggering the requirement to return documents, and the time period for giving a refusal notice. Considers the likely consequences of these new refusal formalities, particularly in the light of the guidance on the construction of UCP 600 provided by the Court of Appeal judgment in Fortis Bank SA/NV v Indian Overseas Bank.

UR - http://irep.ntu.ac.uk/id/eprint/22142/

M3 - Article

VL - 28

SP - 146

EP - 155

JO - Journal of International Banking Law and Regulation

JF - Journal of International Banking Law and Regulation

IS - 4

ER -