The purpose of this study is to analyze the transfer of letter of credit in the practical and legal aspect, and to explore the problems arising from adopting Article 45 of the Uniform Customs and Practice for Documentary credits in 1993 (U.C.P) in int...
The purpose of this study is to analyze the transfer of letter of credit in the practical and legal aspect, and to explore the problems arising from adopting Article 45 of the Uniform Customs and Practice for Documentary credits in 1993 (U.C.P) in international trade practice. In addition, it is intended to suggest amendments in Article 45 of U.C.P.
For this aim, the Articles of transfer credit before 1993 will be studied, and also the legal theories of transfer be analyzed and examined, in comparison with each law. Accordingly, the study on the practice and the customs of transfer will raise problems and amendments.
This study consists of four parts. After 9 studied the subjects of this dissertation, that is to say, the changing of transfer in U.C.P., the analyze of transfer credit in revised U.C.P., I have come to the conclusion as follows.
First, the article of remedy for beneficiary is going to insert on next revision. Second, the transferring bank is going to change into the advising bank.