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Fraud, Exceptions to Autonomy and the UCP 600

Antoniou, AM (2013) 'Fraud, Exceptions to Autonomy and the UCP 600.' Journal of International Banking Law and Regulation, 28 (9). 339 - 346. ISSN 1742-6812

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Abstract

Argues that art.34 of the International Chamber of Commerce Uniform Customs and Practice for Documentary Credits, 2007 Revision (UCP 600), entitled "Disclaimer on effectiveness of documents", provides a basis not only for the fraud exception to the autonomy principle in letters of credit but for illegality, nullity and unconscionability exceptions as well. Analyses the elements of art.34, including the types of fraud it covers, the bank's right to deny payment when the fraud is discovered and the meaning of conduct in "good faith" in this context.

Item Type: Article
Uncontrolled Keywords: Bank payment obligations; Fraud; Illegality; Letters of credit; Nullity; Unconscionability
Subjects: K Law > K Law (General)
Divisions: Faculty of Humanities > Law, School of
Depositing User: Jim Jamieson
Date Deposited: 22 Aug 2013 13:19
Last Modified: 17 Aug 2017 17:58
URI: http://repository.essex.ac.uk/id/eprint/7411

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