Chinese law is very complex and Chinese documentary credit law even more so, not only for practitioners outside China.This book sheds light on Chinese law on letters of credit and how LC disputes are resolved in Chinese courts. It covers critical issues such as:
- Conformity of China’s LC system with international practices, i.e. ISBP
- Consolidation of disputes concerning LCs and underlying practices
- Statutory limitations of action
- Recovery for damages
- Reasonable legal fees
- And more
The author, a renowned expert in the field, has been involved in the drafting of the LC Judicial Interpretations by the Supreme People’s Court of China during the eight-year drafting period. He has more than fifteen years of practice and given more than one hundred lectures and trainings in China and around the world. This publication is also based on 500 plus decided court cases.
This handbook is invaluable for anyone doing export/import transactions with China. Detailed comments, in-depth explanations and critical analyses enable trade finance practitioners to better understand the L/C system and related judicial interpretations in China. It is a must-read for business lawyers and LC practitioners dealing with Chinese business partners.