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Part II Proper Performance under the Operative Credit, 8 Unavailable Stipulated Document

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

Ebenezer Adodo

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 04 March 2024

Letters of credit and damages — Documentary credits
8.01 Applicable international banking practice and settled set of principles running through the preceding chapters put emphasis on presentation of the documents required in a letter of credit as the condition for realizing the credit. When an intended beneficiary, properly bearing in mind the indicated condition, accepts a credit expressly or by implication of law, common sense and mercantile practice generally presume that he fully appreciates the import of the entire terms of the credit and considers the stipulated documents obtainable to draw on the credit. By...
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