dear friends
lets suppose you received a letter of credit with swift telex or by mail
but there is no any indication which subject (law) will be implicated
which law is valid and why
thanks in advance
which publication ucp or isp 98 or any other
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edilee
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iLC
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may be none
i think it depends on the LC it self.it may be ucp as i read once in commentary most probably. but in any case, its the local law that will be governing. i have heard that some countries does not follow UCP and have their own rule. if its from USA, it may be UCC as well.
comments appreciated.
comments appreciated.
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ORUNMILA
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check field 40e
HI
I believe in every standard credit the law under which is subject is most times stated under field 40e. otherwise, clarifications should be sought.
other comment welcome
orunmila
I believe in every standard credit the law under which is subject is most times stated under field 40e. otherwise, clarifications should be sought.
other comment welcome
orunmila