Bombshell Cases in Letter of Credit Operations 近年具爆炸性及爭議性的信用證名案分拆 (T. O. International Trade Seminars)

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Introduction 序言

Letter of credit operation is based on international standard banking practice as reflected by the UCP 500. However, when parties have disputes, they may end up in the court. Unfortunately, the courts need not follow the UCP and may from time to time give judgements based on rigid legal principles that may not match the underlying doctrines of the UCP. A court of appeal may give the issues new perspectives and may drift further apart from the UCP doctrines.

Mr. T. O. Lee has been involving in international letter of credit litigation as a court expert witness for many years, from the Far East to North America. He would like to share with you a collection of the bombshell cases in recent years that have serious effect on international banking practice. He will also talk about private cases that he has resolved and highlights his personal advice on how bankers can avoid the many risks attached to letter of credit operation.

Who Should Attend 培訓對象

• Inward and Outward Bills Supervisors and Managers
• Legal Counsels for Banks and Corporations
• Exporters, Importers, China Traders who have interest in the subject
• Finance, Audit, Credit Control and Administrative Managers

Content Outline 主要內容

• Notice of dishonour must be unconditional, clear, unequivocal, with sufficiency and specificity
  拒付通知書必 須無條件，清楚，明確，內容充實及專注

  3 Com Corporation v. Banco Do Brazil SA 1999
  Creaciones Con Idea v. MashreqBank PSC 1999
  Bombay Industries Inc. v. Bank of New York 1997
  Toyota Tsusho Corp. v. Comerica Bank 1996

• Notice of discrepancies is not a notice of refusal of documents
  不符點通知書未必等於拒付通知書

  Bombay Industries Inc. v. Bank of New York 1997

• Enquiry, suggestion, advice or request cannot be deemed to be notice of decision to dishonour
  詢問，建議，忠告或請求不能算作拒付通知

  3 Com Corporation v. Banco Do Brazil SA 1999

• Duty of care and due diligence for banks
  銀行對客戶有小心及細心勤勉責任

  Special Report Due Diligence by ICC Vintage Publication
  The liabilities of Banks in Documentary Credit Transactions under English Law by Robert Wright and Alan Ward

• Documents produced by computer system without stamping “Original” cannot be deemed to be originals
  電腦系統製作的單據而上面無正本字樣者不可算做正本

  Glencore International AG Bayerische Vereinsbank AG v. Bank of China 1995

• No proof, in ability to make timely correction of discrepancies, needed to be provided by the beneficiary in order to apply sanction to an issuing bank under sub Article 16 (e) of UCP 500
  銀行要面對ＵＣＰ５００第１６（ｅ）條懲罰時，受益人毋須提供証明可及時修改好不符點

  Toyota Tsusho Corp. v. Comerica Bank 1996

• An issuing bank’s payment undertaking not changed by communication
  開證行的付款責任不能因其它通知而可免除

  Continental Grain v. Meridien International Bank Ltd. 1995

• No right to claim reimbursement for a confirming bank that discounts a deferred payment credit before maturity
  保兌銀行就延期付款信用證，對未到期單據作出融資，如遇上詐騙 A不能向開證銀行索取償付

  Banco Santander SA v. Bayfern Ltd. & Others 2000

• Other private cases resolved by the speaker
  其它講師顧問業務個案

Speaker

Mr. T. O. Lee （李道安） FAE, MCIArb, MITD

Duration

One-day workshop

(416) 298-5881

(416) 292-5535

Email: experts@tolee.com   © 1992-2008 T.O. LEE CONSULTANTS LTD.   ALL RIGHTS RESERVED.