Jump to Content Jump to Main Navigation

You are looking at 110 of 24 results

Contributor: Adodo, Ebenezer x
Clear All

Acknowledgements »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo

Part I Setting Up a Letter of Credit Transaction, 1 Business Framework of the Credit Device »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo
1.01 From very early times, mercantile custom and practice common to all legal systems evolved alternative methods of payment of the purchase price of goods in foreign sales transactions. In settling the provisions of a sales transaction contemplating, for example, large-scale, long-haul shipments, the seller can stipulate for an advance payment, due from the buyer upon closing the negotiations; or may content himself with selling the goods to the buyer on open account terms; or agree to employ a bill of exchange; or request the buyer to furnish a letter of credit...

Part II Proper Performance under the Operative Credit, 6 Conceptual Criteria for Identifying Conforming Documents »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo
6.01 We saw in Chapter 4 that it is the beneficiary’s and a nominated bank’s responsibility under a letter of credit to ensure proper delivery of their documents to the issuing bank or the party named in the credit. Also the various ways in which to establish whether a particular presentation has duly reached the designated presentee bank, including the type of situations when that presentee bank can assert improper tendering of the documents as a reason to refuse to honour the submission. Chapter 5 dealt with the nature and scope of the presentee bank’s duty to...

Part I Setting Up a Letter of Credit Transaction, 3 Consequences of Failure to Issue a Conforming Credit »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo
3.01 Issuance of a credit that complies in all material respects with the requirements of the underlying business arrangements is essential for either of the parties to the concluded deal, including their financier. If the credit conforms, no problem arises: the beneficiary has received the instrument he contracted for, and it is now his turn to do what he promised the other contracting party. But a credit may fail to conform for a number of reasons. The applicant’s instructions for its opening can deviate from the terms agreed with the beneficiary. The issuer may...

Contents »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo

Dedication »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo

Foreword »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo

General Introduction »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo
A.01 Problems of compliance in letter of credit transactions fall into two broad categories. One contains cases in which a party contests proper issuance of a given credit. It includes instances 1 where the opening of the credit fails to adhere to some pre-existing arrangements, and the party injured thereby wishes to know where he stands with the party who caused the failure. The other is of a much wider scope. It encompasses 2 mostly disputes over the validity of a right to insist on payment of a specified sum following the presentation of a set of documents to...

Index »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo

Part I Setting Up a Letter of Credit Transaction, Preliminary Material, Introduction to Part I »

From: Letters of Credit: The Law and Practice of Compliance
Ebenezer Adodo