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Documentary credit
decisions published for the first time
Paris,
1 March 2004 - More than thirty decisions taken by ICC experts
on documentary credits have been published for the first time in a single
volume.
ICC's book of the
month for March, Collected DOCDEX Decisions 1997-2003 brings
together decisi
ons made over a seven-year period. Indexed with references
to the relevant articles of the ICC rules, DOCDEX Decisions answers a
broad range of questions including:
- Can a standby letter
of credit subject to UCP 500 also be the subject of a DOCDEX case?
DOXDEX is a rapid
and cost-effective dispute resolution system used by bankers, lawyers
and international trade and finance professionals worldwide who need quick
decisions on outstanding documentary credit conflicts.
In his foreword, Gary
Collyer, Technical Adviser, ICC Commission on Banking Techniques and Practice
notes:
"Even though
DOCDEX Decisions are not binding, they can be used as evidence if the
parties later decide to go to court.
"Moreover, it
is probable that if one party is armed with a DOCDEX Decision from ICC
experts, the other party may well be deterred from going to court at all."
Other questions examined
in the collection include:
- Should banks be
required to investigate the means of delivery on a bill of lading?
- When can typographical
errors in a credit be called a discrepancy?
- Must the issuing
bank pay when one of the documents, an inspection certificate, is not
presented to it?
- Is there a discrepancy
when a master's receipt is signed "for the master"?
- What is the impact
of an alleged forgery of a bill of lading?
Collected DOCDEX
Decisions 1997-2003 may be purchased online from the ICC
Business Bookstore and from ICC
national committees throughout the world.
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