If you are in any way involved with international trade finance, you need to be sure that payments can be processed quickly and painlessly - and legally. This single volume reference work will provide you with just the help you need to ensure that you are able to remain in business.
Bills of exchange and bankers' documentary credits are the fundamental financial instruments and mechanism of settlement for international trading transactions. Bills of Exchange and Bankers' Documentary Credits, 4th Edition provides a highly readable, yet in-depth account of the law and practice relating to bills of exchange, cheques and bankers documentary credits.
The authors explain how the Bills of Exchange and other instruments work in practice, drawing particular attention to the problems which are likely to arise and how best to resolve them. Furthermore, because the parties to financial transactions are often based in different countries, it deals with jurisdiction and choice of law to enable you to make the most informed and profitable choices.
Well received by readers in its last editions, the new edition has been totally revised and updated to ensure that you are able to benefit from key legislative and case law changes. With the fourth edition, you will benefit from these substantial changes to ensure that your knowledge of this area remains as up to date as possible:
- A new chapter on Electronic Fund Transfers
- Coverage of the latest important cases including :
- Halki Shipping Corporation v. Sopex Oils Ltd (1998) - which may cause serious inroads into the belief that a bill of exchange is to be treated as the equivalent of cash
- Kleinwort Benson v. Lincoln City Council (1999) - on recovery of payments made under a mistake of law
- Foskett v. McEown (2000) - on tracing
- Middle Temple v. Lloyd's Bank (1999) - on the negligence of collecting banks
- Details of recent legislative changes including:
- The Bank of England Act 1998
- Electronic Communications Act 2000
- the implementation of the Civil Procedure Rules in 1999
- Decimalised paragraph numbering - for easier subject reference
- A new table of ICC Conventions - making it easier for you to find the appropriate rule
- Inclusion of the Rules for the CHAPS Clearing Company's Sterling and Euro Services
Make sure that your activities are not hampered by out of date knowledge of developments which could have a dramatic effect on your business.