ICC Digital Library Forum

Apart from Opinion R17, is any one aware of any published discussions, views or litigation (in any part of the world) on the subject of -what are now- sub-Articles 18a & b; their interpretation and enforceability? Grateful to anyone who kindly lets me know.

Jeremy,
Whatever is mentioned in R.17 (Article 12 of UCP 290 – Extent of responsibility of issuing bank for errors of advising bank) is actually repeated in ICC Pub No. 411-UCP 500 & 400 Compared, p. 53 (first para). Please see if the article published in DC Insight VOL 7 Issue No. 4 October-December 2001 by Jorge Luis Riva entitled “Rights as between the credit applicant and the correspondent bank” would be of any help.

Regards
Dimitri

The following might be of help:

Book Name : Bills of Exchange and Bankers' Documentary Credits

Edition: 3rd

Author : William Hedley

Chapter : 16 (Legal Relationship)

Heading : The contract Between Buyer and His Bank

Sub-Heading : Limitation of Liability
(pages 304 through 306)

It covers discussions on the exemption clauses (including article 18) in UCP 500 that are trying to relieve banks from certain responsibilities.

regards

Thanks for the above. Any further info gratefully rec'd.