جستجوی مقالات مرتبط با کلیدواژه « applicant » در نشریات گروه « فقه و حقوق »

Applicant, beneficiary, issuing bank and advising bank (in most cases) are the four parties that have the mutual rights and obligations in the letter of credit. In many cases, the letter of credit is also confirmed by another bank (the confirming bank). International letters of credit always have a foreign element and in spite of the existence of "Uniform Customs and Practice for Documentary Credits (UCP)", in many cases it is necessary to determine applicable law to these relationships. Accordingly, in this paper applicable law to relationships in international letters of credit will be studied in four categories by a descriptive-analytical method 1-Relationship between issuing bank and applicant, 2- Issuing bank and advising bank relationship with beneficiary, 3- Relationship between issuing bank and advising bank, 4- Relationship between confirming bank and other parties of the letter of credit. The results show that in each of the aforementioned relationships, the applicable law is the law of issuing bank or advising bank's country or the country where the center of gravity of the contract is situated.

Simultaneous presence of principle of independence and surety nature of bank guarantee is reason of numerous questions about rules governing bank guarantees. One of the issues raised in this regard is recourse after payment. The applicant's recourse is conceivable to two parties: beneficiary and guarantor. If beneficiary is not entitled to receive the amount of guarantee in accordance with the basic contract, it must reimburse the amount received. The applicant can also refer to the guarantor for refunds. Since the guarantor usually withdraws its financial claims from applicant’s account after payment of guarantee, the applicant's recourse to guarantor and its conditions have consequential and practical results. The recourse of applicant to guarantor is possible in case of undue payment of guarantee or if guarantor acts in contravention of the applicant’s instructions. This article describes the basics, conditions, and ways of recourse in the foregoing with emphasis on French law.

To the question of whether to allow the applicant to formulate the new (additional) claims in the course of proceedings, the Permanent Court of International Justice has responded affirmatively. The International Court of Justice seems to depart from the approach adopted by its predecessor, giving considerable preponderance to the limits of the claim as delimited by the terms of the Application, as well as giving a very narrow interpretation of the connection that must exist between the new claim and the one formulated in the Application. This is what makes (almost) impossible the submission of an additional claim. The judgment of 30 November 2010, rendered in the merits of the case concerning Ahmadou Sadio Diallo is the notable example of the application of this approach. The Court emphasizes the disadvantages resulting from the submission of new claims in the course of proceedings. We think that it will not be the case if it is recognized that the new claim is a real affirmative demand, and an incidental proceeding.

Letter of credit(LC')due to its special characteristics, is one of the most prevalent methods for payment in international transactions. By establishing the Uniform Customs and Practice for Documentary Credits (since) 1933, in order to unification of the rules governing letters of credit, International Chamber of Commerce) ICC) has tried to clarify this method of payment. ICC has standardized issuing of the documents related to letter of credit, so as to declining problems which are come across with engaged parties due to this method of payment. However, despite these efforts, still numerous ambiguities surround this method of payment, especially banks are challenging with several problems in connection with the documents presented by the beneficiaries. This shows that prevailing rules on the principle of strict compliance of documents are not clear enough. In order to enhance the letters of credit’s efficiency, this paper will try to review the contrast interpretations regarding the concept of the principle and provide solutions for the above problems. This study includes all engaged parties in)LC)’s operations and specially will examine Doctrine of Strict Compliance in Commercial Invoices.

Provisions of the EUCP (2002) brings the documentary credit into the electronic age. Moving toward the electronic presentation of documentary credit will change the duties and responsibilities of the banks involved in the paper credit contracts. Although agent banks may be needed for the purposes of finance, risk-related purposes and political issues, such a change may diminish the banks roles. EUCP as a method of electronic payment has its own problems. This article examines the legal relations of the parties to an electronic letter of credit; its special cases such as electronic presentation of records (time and place of the presentation), hyperlinks, and changes in the electronic data in general and electronic records in particular, notions and methods of electronic survey of the records and etc.