Letters of credit: fraud exception | Practical Law

Letters of credit: fraud exception | Practical Law

The High Court has held that the fraud exception will apply to prevent a payment under a letter of credit where the signatory of the presentation knows that the sums demanded are not immediately due and payable.

Letters of credit: fraud exception

Practical Law UK Articles 2-636-2777 (Approx. 3 pages)

Letters of credit: fraud exception

by Freshfields Bruckhaus Deringer LLP
Published on 01 Dec 2016
The High Court has held that the fraud exception will apply to prevent a payment under a letter of credit where the signatory of the presentation knows that the sums demanded are not immediately due and payable.