Edilex-palvelut

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French-Finnish Perspective on the Practice of Examination of Documents

Kurkela, S. Matti

Artikkelit 18.4.2016, Asiantuntija-artikkeli
Alkuperäinen julkaisupäivä: 18.4.2016

Tiivistelmä

This essay is devoted to process or proceedings examining the presentation of documents under letters of credit (“LC”). In this process the bank, acting as an agent relied on by all parties, will examine the claim made against the promise given in the LC and the evidence presented by the beneficiary to meet this condition precedent. It is based on the documents presented only and nothing else. In addition the decision is to be taken in a few days. This does not allow the bank to do an in-depth substantive analysis. The decision is to be taken by the banker on the appearance of the documents presented. There shall be no oral hearings or presentation of evidence. In sum it is a summary microproceeding resulting either in an honour or rejection. Honour indicates the unenforceable character of the decision taken. (Edilex-toimitus)

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