LAW 724 Lecture Notes - Insurable Interest, Unimodality, Scotiabank
6 Mar 2014
School
Department
Course
Professor
Document Summary
Chapter 8 ancillary contracts for the international transaction: financing, Additional or supporting contracts that are essential to commercial transactions. Transactions: understanding the letter of credit arrangements for canada, payment arrangement most often agreed upon by canadian parties doing business in countries other than. > if an advising bank refuses to pay on the tender of the documents, the exporter may be compelled to institute legal proceedings abroad, a situation that is avoided if the nominated is a confirming bank. Advising bank-> undertakes only to examine and forward the documents to the issuing bank; it is not obligated or authorized to negotiate a draft or pay the seller. > if an advisisng bank refuses to pay on the tender of the documents, the exporter may be compelled to institute legal proceedings abroad, a situation that is avoided if the nominated is a confirming bank.
