Letters of Credit The Law and Practice on Compliance

Ebenezer Adodo, Lecturer in Law, School of Law, University of Surrey

Dr Ebenezer is Lecturer in Law at the School of Law, University of Surrey. Dr Adodo completed his PhD at the National University of Singapore and has written widely on letters of credit and related topics. His articles have been published in journals such as the Journal of Business Law.

PART I - SETTING UP A LETTER OF CREDIT TRANSACTION
Introduction to Part I
1. Business framework of the credit device
2. Parties' roles in the credit opening process
3. Consequences of failure to issue a conforming credit
PART II - PROPER PERFORMANCE UNDER THE OPERATIVE CREDIT
Introduction to Part II
4. Presenting documents to draw on the credit
5. Presentee bank's document examination duties
6. Conceptual criteria for identifying conforming documents
7. Requirements for specific modes of documentation
8. Unavailable stipulated document
9. Procedures for handling a non-complying presentation
PART III - CONTRACT CHOICE OF LAW ISSUES
Introduction to Part III
10. The law applicable to beneficiary's presentation for payment
11. Nominated Bank's Right of Reimbursement