Analysis of the Duties and Potential Liabilities. Of Issuing and Confirming Banks in Documentary Credit Transactions

      Аннотация: The book focuses on the duties and potential liabilities of issuing and confirming banks when they decide not to pay against a documentary presentation as provided for in Article 16 (c-f) of the Uniform Customs and Practice for Documentary Credits, ICC publication No.600. Although the duty of the issuing and confirming banks to give notice to the presenter is clear, there are controversies around what constitutes a reasonable delay in giving notice. What constitutes notice (oral notice or by telecommunications)? What should the notice consist of? After notice has been given, what amounts to reasonable delay in returning the documents to the presenter? These are some of the issues discussed in this publication.

Ключевые слова: Duties, potential liabilities, issuing and confirming banks, not to pay, documentary credit presentations, Mojisola Olugbemi, Law, baking, Payment, Credit