Documentary Credits are the most common means by which international sale of goods contracts are financed, and are also one of the most commonly litigated aspects of international contracts.

This book provides a thorough and critical analysis of the law relating to documentary credits, and in particular, of the operation of the UCP 500, as well as the law relating to those documentary credits that fall outside the scope of these rules. This book offers a comparative analysis based on key decisions that have been made outside UK jurisdiction.

This book is ideal for legal practitioners working within the banking and commercial sectors, as well as academics and those working within the banking sector.

Dealing with the law relating to documentary credits in both an English and international context, this book provides information on the law of documentary credits; and an examination of the fundamental concepts of the documentary credit regime including: the principle of autonomy; the doctrine of strict compliance; and the 'fraud exception'.