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Part II Proper Performance under the Operative Credit, 9 Procedures for Handling a Non-complying Presentation

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, 2022. All Rights Reserved.date: 23 May 2022

Subject(s):
Letters of credit and damages — Letters of indemnity and damages
9.01 In this chapter, we are concerned with the methods by which a presentee bank, on its own initiative or at the request of a presenting beneficiary or nominated bank, may deal with a faulty tender of documents, and then the various ways it has to comply with the requirements of Article 16 (c) to (e) of the UCP 600 as to furnishing a rejection notice if it ultimately decides on dishonour of the documents, and finally management of the dishonoured documents post service of the notice. The subjects comprise the last of the three contexts (identified in the...
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