Letters of Credit and Bank Guarantees under International Trade Law

Letters of credit and bank guarantees are the most important financial instruments in international exchange.  Matti S. Kurkela,a leading expert in the field, presents an advanced, extensive study and guide to letters of credit for practitioners.  The author analyses the material rules and principles applicable ot them; conflict of laws as well as law merchant applied regardless of place of operation or nationality of the parties involved.

New Second Edition includes:

• Analysis and comparison of commercial and standby credits, bank guarantees and bonds used in international exchange
• Changes made to the UCC Article 5 and UCP 600
• New developments, landmark decisions and case law
• Guidance to and analysis of inter-bank relationship, indemnity agreements and reference to sample documentation