Browsing Law by Subject "Letters of credit"
Now showing items 1-2 of 2
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Towards the recognition of the illegality exception under documentary credits in South Africa
(North-West University, 2019)Letters of credit have two cardinal principles namely Strict compliance and the Independence principle. Strict compliance entails that for a beneficiary to be honoured under a credit, he has to strictly comply with the ... -
Using the nullity exception to combat the circulation of fraudulent documents in letters of credit transactions
(North-West University (South Africa), Potchefstroom Campus, 2016)In letters of credit transactions when the beneficiary presents apparently conforming documents before the bank, as long as the bank has exercised proper care in making payment it can disregard all disputes arising from ...