International Trade and the use of Documentary Credit

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The documentary letter of credit is used world-wide to finance business transactions. In his work, the author endeavors to look into the enormous implications that arose from the decision of the English Court of Appeal in the Banco Santander case. That case was a landmark event for the world of international business as it dealt with the heart of all business matters i.e. payments via letters of credit/documentary credit. To look into this, it first considers what is meant by a letter of credit and the advantages of using a letter of credit. It then delves into the judgment given in the Banco Santander case and attempts to critically analyse the judgment and the reasons cited by the court for its judgment. It does so by looking at various academic papers that have been written upon it. Finally, in light of the arguments raised, the author moves towards setting out his reasons for considering the case to have enormously hampered international business. This book can be very useful for those who have an interest in building their knowledge in the fields of international business, documentary credits and its various aspects.