The California International Practitioner

The California International Practitioner

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1 7 provides that a bank is not obligated to honor any such expired credit when it resumes business. ... To give but one example, Article 18 of the Convention allows an issuer to discharge its standby letter of credit payment obligation to the beneficiary by setting off ... In other words, when a bank issues a letter of credit, the credit should state that, as a condition of payment, the bank must receive a certainanbsp;...

Title:The California International Practitioner
Publisher: - 2005


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