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 to 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