This book will be of immense help for anyone doing export/import transactions with
China. Detailed comments, in-depth explanations and critical analyses enable trade
finance practitioners to better understand the L/C system and related judicial interpretations in China.
Chinese law is very complex and Chinese LC law even more so, not only for practitioners outside China. This book sheds light on Chinese law on letters of credit and how LC disputes are resolved in Chinese courts and covers critical issues such as:
- Conformity of China’s LC system with international practices, i.e. ISBP
- Consolidation of disputes concerning LCs and underlying practices
- Statutory limitations of action
- Recovery for damages
- Reasonable legal fees
- And more
The author, a renowned expert in the area, has been involved in the drafting of the LC
Judicial Interpretations by the Supreme People’s Court of China during the eight-year
drafting period. He has more than fifteen years of practice and given more than one
hundred lectures and trainings in China and around the world. This book is also based
on 500 plus decided court cases and a must-read for business lawyers and LC
practitioners dealing with Chinese business partners.