Supreme People's Court, Provisions on Several Issues Concerning the Trial of Letter of Credit Disputes

Promulgated: November 14 2005
Effective: January 1 2006

Main contents: The Provisions apply to unpaid amount disputes arising in connection with applications to open letters of credit between applicants and opening banks, disputes arising in connection with the entrusted opening of letters of credit between entrusting and entrusted parties, disputes arising in connection with the provision of security by guarantors for applications to open letters of credit or the entrusted opening of letters of credit and disputes arising in connection with the financing under letters of credit.
Related legislation: PRC Civil Law General Principles, Apr 12 1986; PRC Contract Law, Mar 15 1999, CLP 1999 No.4 p.19; PRC Security Law, Jun 30 1995, CLP 1995 No.6 p.21 and PRC Civil Procedure Law (2nd Revision)