Letter of Credit Law

Author: Jin Saibo
Publisher:
Publish Date: 2004-04-01
Features: Letter of Credit as a financial instrument and a trade settlement method is one of the products of the development of international commodity trade. The law related to letters of credit has become a separate chapter in the commercial laws of countries like the United States, the United Kingdom, France, and Germany, which is sufficient to demonstrate the important position of letter of credit law in American commercial law. The Uniform Customs and Practice for Documentary Credits (UCP) issued by the International Chamber of Commerce and its revisions, as well as the global promotion of the market economy. First, this book introduces the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce and the statutory law of letters of credit in the United States as thoroughly as possible. The book also compares the case law and legal practices of the United States, the United Kingdom, Germany, China, and other countries as thoroughly as possible, hoping to provide practical suggestions and assistance to China's banking, trading, and legal sectors when dealing with domestic and foreign banks and trading enterprises or when legal disputes arise. The book introduces the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce and the statutory law of letters of credit in the United States as thoroughly as possible. The book also compares the case law and legal practices of the United States, the United Kingdom, Germany, China, and other countries as thoroughly as possible, hoping to provide practical suggestions and assistance to China's banking, trading, and legal sectors when dealing with domestic and foreign banks and trading enterprises or when legal disputes arise.