This article addresses the insolvency of the letter of credit transaction's participants. In the first part of this three-part article, which appeared in a prior issue of The Banking Law Journal, the author discussed the insolvency of the beneficiary of the credit. This second part addresses the...

This article addresses the insolvency of the letter of credit transaction's participants. In this first part of a three-part article, the author discusses the insolvency of the beneficiary of the credit. The second part and third parts of the article, which will be featured in upcoming issues of...

In this article Professor Dolan argues that the law should mandate attorney's fees in much letter of credit (“LC”) litigation. The argument rests on the notion that litigation itself, notwithstanding the results it obtains, transforms the LC, a unique commercial bank product, into an...

The following preface and chapter describe an effort to convince readers (business people, bankers, and lawyers) that the standby letter of credit is a handy, flexible, commercial device that can support virtually any business activity and often without a battery of lawyers or letter of credit...

This article addresses the insolvency of the letter of credit transaction's participants. In the first and second parts of a three-part article, which appeared in prior issues of The Banking Law Journal, the author discussed the insolvency of the beneficiary of the credit and the insolvency of...

The International Chamber of Commerce's adoption of the Uniform Customs and Practice for Documentary Credits (UCP 600) effective July 1, 2007, provides an opportune time for a handbook that explains the mechanics of international sales, the role banks play in them, and the use of documentary...