Standby letters of credit, the “fraud” exception and commercial certainty – English law orthodoxy challenged

Recent cases have highlighted perceived problems caused by the largely unfettered availability of calls on standby letters of credit or performance bonds in circumstances where the underlying parties are already embroiled in some form of relevant dispute resolution procedure.

In the July/August 2017 edition of Butterworths Journal of International Banking and Financial Law, Andrew Ayres QC questions the reluctance of the courts to interfere with the cashflow dynamics between the parties to a standby.

Click here to read the full article.

 

Filed Under: JIBFL

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