Open Access

Remedies to Fraud in Documentary Letters of Credit: A Comparative Perspective / Opravné Opatrenia Pri Podvodoch S Dokumentárnymi Akreditívami: Komparatívna Perspektíva

   | Jul 14, 2016

Cite

1. Alavi, H. (2016). “Mitigating the Risk of Fraud in Documentary Letters of Credit.” Baltic Journal of European Studies 6.1: 139-156.Search in Google Scholar

2. Alavi , H. (2015) , “Autonomy Principle and Fraud Exception in Documentary Letters of Credit, a Comparative Study between United States and England”. International and Comparative Law Review, Vol. 15, No. 2, (2015), 45-67.10.1515/iclr-2016-0035Search in Google Scholar

3. Aslett, P, (2003), ‘Cross-border Asset Protection: An Offshore Perspective’, Journal of Financial Crime, 10(3), 229-245.10.1108/13590790310808817Search in Google Scholar

4. Atiyah, P. S. & Smith, Stephen A. (2005), An Introduction to the Law of Contract, Oxford: Oxford University Press, 6th ed, pp. 377-388.Search in Google Scholar

5. Barnes, James G. & Byrne, James E. (2001), ‘Letters of Credit: 2000’, 56 Business Law. 4, reprinted in Annual Survey of Letter of Credit Law & Practice 13, 18 (2002).Search in Google Scholar

6. Barnes, James G. & Byrne, James E. (2007)., ‘Letters of Credit’, in Byrnes, James E. & Byrnes, Christopher S. (Eds.) , 2007 Annual Survey of Letter of Credit Law and Practice, MD: The Institute of International Banking Law & Practice, Inc., pp. 39-42.Search in Google Scholar

7. Barski. K, A. (1996), ‘Letters of Credit: A Comparison of Article 5 of the Uniform Commercial Code and the Uniform Customs and Practice for Documentary Credits’, 41 Loy. L. Rev. 735, p. 751.Search in Google Scholar

8. Buckley, Ross P. & Gao, Xiang (2002), ‘The Development of the Fraud Rule Letter of Credit Law: the Journey So Far and the Road Ahead’, University of Pennsylvania Journal of International Economic Law 663, (Winter) 676.Search in Google Scholar

9. Buckley, Ross P. (1995), ‘The 1993 Revision of the Uniform Customs and Practice for Documentary Credits’, Journal of Banking & Finance Law & Practice 77, p. 97.Search in Google Scholar

10. Capper, D, (2007), ‘Case Comment: Asset Freezing Orders - Failure to State the Cause of Action’, C.J.Q. 26 (APR), 181-184, p. 181.Search in Google Scholar

11. Capper D., (1996), ‘The Trans-Jurisdictional Effects of Mareva Injunctions’, C.J.Q. 15 (JUL), 211-233, p. 219.Search in Google Scholar

12. D’Arcy, Leo (2000), Schmitthoff’s Export Trade - The law and Practice of International Trade, London: Sweet & Maxwell, 10th ed, p. 166.Search in Google Scholar

13. De Ly F., (1999), ‘The UN Convention on Independent Guarantees and Standby Letters of Credit’, 33 Int’l Law 831 (Fall), p. 843.Search in Google Scholar

14. Devonshire P.,(1996), ‘The Implications of Third Parties Holding Assets Subject to a Mareva Injunction’, LMCLQ, (May), Part 2, p. 269.Search in Google Scholar

15. Dolan, John F. (1997), ‘The UN Convention on International Independent Undertakings: Do States with Mature Letter-of- Credit Regimes Need It?, 13 B.F.L.R.1, p. 23.Search in Google Scholar

16. Dolan, John F. (2002), ‘Commentary on Legislative Developments in Letter of Credit Law: An Interim Report’, 8 Banking & Fin. L. Rev. 53p. 63.Search in Google Scholar

17. Ellinger, E. P. and Neo, D. S. S. (2010). “The Law and Practice of Documentary Letters of Credit”. Hart.Search in Google Scholar

18. Enonchong, N (2011), The Independence Principle of Letter of Credit and Demand Guarantees, Oxford University Press.Search in Google Scholar

19. Fletcher, George P. & Sheppard, Steve (2005), American Law in a Global Context: The Basics, Oxford; New York: Oxford University Press, p. 511.Search in Google Scholar

20. Gao, Xiang & Buckley, Ross P. (2003), ‘A Comparative Analysis of the Standard of Fraud Required under the Fraud rule in Letter of Credit Law’, 13 Duke Journal of Comparative and International law p. 333.Search in Google Scholar

21. Goode, R. (1995), ‘Abstract Payment Undertakings and the Rules of the International Chamber of Commerce’, 39 Saint Louis University Law Journal 725, p. 727.Search in Google Scholar

22. Goode, Roy (2004), Transnational Commercial Law - International Instruments and Commentary, Oxford: Oxford University Press, 1st ed., p. 341.Search in Google Scholar

23. Gordley, James (1995), ‘Comparative Legal Research: Its Function in the Development of Harmonized Law’, 43 Am. J. Comp. L. 555, Autumn.), p. 560.10.2307/840607Search in Google Scholar

24. Gorton, L, (1996), ‘Draft UNCITRAL Convention on Independent Guarantees’, LMCLQ, Part 2, May, 42, p. 49.Search in Google Scholar

25. Hapgood, M, (1989), Paget’s Law of Banking, London & Edinburth: Butterworths, 10th ed., p. 332.Search in Google Scholar

26. ICC, edited by Bernard Wheble (1987), Opinions of the ICC Banking Commission - On Queries relating to Uniform Customs and Practice for Documentary Credits 1984-1986, ICC Publishing S.A., ICC Publication No. 434, p. 23.Search in Google Scholar

27. ICC, Opinions of the ICC Banking Commission 1995-1996, ICC Publication No. 565, p. 22.Search in Google Scholar

28. ICC (1997) ‘Query: Rights of Recourse to the Beneficiary in the event of Fraud, in ‘Latest Queries Answered by the ICC Banking Commission’’, DCI (ICC), Spring 1997, Vol. 3, No. 2, p. 7.Search in Google Scholar

29. Ingman, Terence (1994), The English Legal Process, London: Blackstone Press Limited, 5th ed., p. 313.Search in Google Scholar

30. Kelly-Louw, M. (2009). Selective legal aspects of bank demand guarantees (Doctoral dissertation). 179.Search in Google Scholar

31. Kuo-Ellen, Lin S. (2002), ‘UCP Needs to Change’, Journal of Money Laundering Control, Vol. 5, No. 3, p. 231.Search in Google Scholar

32. Kurkela M, (1985), Letters of Credit under International Trade Law: UCC, UCP and Law Merchant, New York, London & Rome: Oceana Publications. Inc., pp. 31-32.Search in Google Scholar

33. Leacock S, J. (1984), ‘Fraud in International Transaction: Enjoining Payment of Letters of credit in International Transactions’, 17 Vand. J. Transnat’l L. 885 (Fall), p. 912.Search in Google Scholar

34. Liu, Yuxia (2007), ‘Study on l Legislation on Court Injunction in L/C Fraud’, Economic and Social Development, Vol. 5, No. 7, Jul., 117.Search in Google Scholar

35. Malek A & Quest D (2009), ‘Documentary Credits - The Law and Practice of Documentary Credits Including Standby Credits and Demand Guarantees’ 4ed, Tottel. 264.Search in Google Scholar

36. Meisel, Frank (2007), ‘Case Comment: Worldwide Freezing Orders - the Dadourian Guidelines’, C.J.Q., 26 (APR), 176-180, p. 176.Search in Google Scholar

37. Mooney, J. Lowell & Blodgett, Mark S. (1995), ‘Letters of Credit in the Global Economy: Implications for International Trade’, Journal of International Accounting, Auditing and Taxation, Vol. 4, Issue 2, Pages 175-183, p. 183.Search in Google Scholar

38. Rowe, M, (1998), ‘Do We Need a Transnational Law on Documentary Credits? Michael Rowe & Bernard Wheble Debate’, DCI (ICC), Spring, Vol. 4, No. 2, pp. 16-17.Search in Google Scholar

39. Sealy, L.S. & Hooley, R.J.A. (2005), Commercial Law - Text, Cases and Materials, Oxford: Oxford University Press, 3rd ed p. 852.Search in Google Scholar

40. Suen, H & Cheung, S, (2007), ‘Mareva Injunctions: Evolving Principles and Practices Revisited’, Const.L.J. 23 (2), pp. 120-121.Search in Google Scholar

41. Takahashi. K, (2009), “The introduction of article 12(b) in the UCP 600: Was it a really step forward?”, JIBLR 24 (6) , 285-286.Search in Google Scholar

42. Treitel, Guenter (2003), The Law of Contract, London: Thomson Sweet & Maxwell, 11th ed., pp. 1040-1048.Search in Google Scholar

43. Wunnicke, B & Wunnicke, Diane B. (1996), Standby and Commercial Letters of Credit, New York: Wiley Law Publications, 2nd ed, pp. 165-179.Search in Google Scholar

44. Xiang, Gao, (2002), The Fraud Rule in the law of Letters of Credit, Hague, 126.Search in Google Scholar

45. Zhang, Y. (2011). Approaches to Resolving the International Documentary Letters of Credit Fraud Issue. University of Eastern Finland. pp. 74.Search in Google Scholar

46. Ziegel. J, S. (1979) (Chief Ed.), International Encyclopaedia of Comparative Law Volume IX Commercial Transactions and Institutions, under the auspices of the International Association of Legal Science, Martinus Nijhoff Publishers’, pp. 123-124. Search in Google Scholar

1. 31 NYS 2d 631 (1941) 633.Search in Google Scholar

2. Aiglon Ltd v. Gau Shan Co Ltd, [1993] 1 Lloyd’s Rep. 164.Search in Google Scholar

3. Allen v. Jambo Holdings Ltd [1980] 2 All E.R. 502, CA.Search in Google Scholar

4. American Cyanamid Co v Ethicon Ltd [1975] AC396.Search in Google Scholar

5. Angelica-Whitewear Ltd v Bank of Nova Scotia 36 D.L.R. (4th) EYB 1987-67726.Search in Google Scholar

6. Banco Santander SA v. Banque Paribas, [2000] CLC 906.Search in Google Scholar

7. Bank Mellat v. Nikpour [1985] F.S.R. 87, p. 92.Search in Google Scholar

8. Bankers Trust Co. v. Shapira [1980] 1 W.L.R. 1274.Search in Google Scholar

9. Banque Saudi Fransi v Lear Siegler Services Inc. [2007] 2 Lloyd’s Rep 47, 18.Search in Google Scholar

10. Bolivinter Oil SA v Chase Manhattan Bank [1984] Lloyd’s Rep 251.Search in Google Scholar

11. Czarnikow-Rionda Sugar Trading Inc. v Standard Bank London [1999] 2 Lloyd’s Rep 187([1999] Lloyd’s Rep Bank 197.Search in Google Scholar

12. Derby & Co Ltd v. Weldon (No. 3 and 4) [1989] 1 All ER 1002, p. 1007, [1989] 2 WLR 412, p. 419.Search in Google Scholar

13. Discount Record Ltd v Barclays Bank Ltd [1975] 1WLR 315.Search in Google Scholar

14. Edward Owen Engineering Ltd v. Barclays Bank International [1978] QB 159.Search in Google Scholar

15. Great Future International Ltd v. Sealand Housing Corp, [2003] EWCA Civ 682.Search in Google Scholar

16. Group Josi Re v Walbrook Insurance Co Ltd [1996] 1 WLR 1152.Search in Google Scholar

17. Horbottel v. National Westminster Bank [1978] QB 146.Search in Google Scholar

18. International Ltd [1978] QB 159.Search in Google Scholar

19. Kavaerner Jhon Brown Ltd v Midland Bank Plc (1998) CLC 446.Search in Google Scholar

20. Lorne Stewart plc v Hermes Kreditversicherungs AG , (1999) 2 Lloyd’s Rep 187 .Search in Google Scholar

21. Safa Ltd v Banque du Caire [2000] 2 Lloyd’s Rep. 600.Search in Google Scholar

22. Sirius International Insurance Corp v FAI General Insurance Co. Ltd (2003) 1 All ER (Comm) 865.Search in Google Scholar

23. Siskina (Cargo Owners) v. Distos Compania Naviera SA [1979] AC 210, HL.Search in Google Scholar

24. Solo Industries UK Ltd v Canara Bank [2001] 1 WLR 1800, [2001] EWCA Civ 1059.Search in Google Scholar

25. Szetjn v. Henry Schroder Banking Corporation (1941) 31 N.Y. S.2d 631.Search in Google Scholar

26. The Civil Jurisdiction and Judgement’s Act, 1982 (Interim Relief) Order 1997.Search in Google Scholar

27. The Niedersachsen [1984] 1 All ER 398 pp. 414-415, [1983] 1 WLR 1412, p. 1417, CA.Search in Google Scholar

28. Themehelp Ltd v West and Others [1996] QB 84.Search in Google Scholar

29. Third Chandris Shipping Corpn v. Unimarine SA [1979] QB 645, pp. 668-669.Search in Google Scholar

30. UCC Article 5 Letters of Credit, UCC§5-109 Forgery and Fraud, Official Comment.Search in Google Scholar

31. United Trading Corp. SA v Allied Arab Bank Ltd, [1985] 2 Lloyds Rep 554, 561.Search in Google Scholar

32. Z Ltd v. A-Z [1982] 1 Q.B. 558, 574.Search in Google Scholar

eISSN:
1339-9276
Language:
English