The Provisions on Several Issues Concerning the Trial of Letter of Credit Disputes (关于审理信用証纠纷案件若干问题的规定), China's first letter of credit-related law, has attracted widespread attention in the banking sector and judicial circles.
Adjudicating Letter of Credit-Related Cases
The Provisions define applicable laws where international practices represented by the usual UCP 500 do not cover the disputed LC issue, the legal relationship between the parties to an LC, and the concept of 'LC fraud'.
By
clpstaff
& clp articles