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- Fri Sep 19, 2008 1:00 am
- Forum: UCP 600
- Topic: Liablity of the issuing bank under the injunction situation
- Replies: 7
- Views: 4345
Liablity of the issuing bank under the injunction situation
WE KNOW THAT IN MANY COUNTRIES FAILUR TO OBBEY TO THE INJUCTION ISSUED BY A NATIONAL AUTHORITY, LIKE A JUDGE, LEADS TO CIVIL SANCTIONS FOR THE BANK AND EVEN PENAL SANCTIONS FOR THE PERSON WHO EFFECTED THE PAYMENT. HOWEVER, IT IS ESSENTIAL TO SEPARATE BANK’S OBLIGATIONS ARISING FROM UCP FROM THE ONES...