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Contact

Contact with chambers should be made through the Practice Management Team. They are happy to discuss client requirements and provide further information on such matters as the expertise and experience of individual members, fees, working practices and languages spoken. We have members able to work in French, German, Italian, Spanish, Dutch, Swedish, Greek and Chinese (Mandarin).

Outside working hours, a member of our team is always available to be contacted on matters of an urgent nature. Contact should be made using the Chambers main number or email.

To contact our Singapore office, please contact our BD Director, Asia, Rachel Foxton. Out of office hours calls will automatically be diverted to our clerking team in London.

London

Twenty Essex Street
London
WC2R 3AL

enquiries@twentyessex.com
t: +44 20 7842 1200
DX 0009 Lond/Chan Lane

Singapore

28 Maxwell Road
#02-03
Maxwell Chambers Suites
Singapore 069120

singapore@twentyessex.com
t: +65 62257230

Contact

Contact with chambers should be made through the Practice Management Team. They are happy to discuss client requirements and provide further information on such matters as the expertise and experience of individual members, fees, working practices and languages spoken. We have members able to work in French, German, Italian, Spanish, Dutch, Swedish, Greek and Chinese (Mandarin).

Outside working hours, a member of our team is always available to be contacted on matters of an urgent nature. Contact should be made using the Chambers main number or email.

To contact our Singapore office, please contact our BD Director, Asia, Rachel Foxton. Out of office hours calls will automatically be diverted to our clerking team in London.

London

Twenty Essex Street
London
WC2R 3AL

enquiries@twentyessex.com
t: +44 20 7842 1200
DX 0009 Lond/Chan Lane

Singapore

28 Maxwell Road
#02-03
Maxwell Chambers Suites
Singapore 069120

singapore@twentyessex.com
t: +65 62257230

31/01/2011

Fortis Bank and Stemcor UK Limited v Indian Overseas Bank

This is an archived article, and some links may not work. Contact us if you have any questions.

This appeal raised an important issue as to the position which arises when an issuing bank that has rejected documents presented under a letter of credit gives notice that it is returning the documents to the presenter. In one of the first reported cases on the construction of UCP 600, the Court of Appeal held (upholding the judgment of Hamblen J) that when an issuing bank gives such notice it is, on the proper construction of Article 16 of UCP 600, under an obligation to return the documents promptly. If it does not, the bank is precluded from claiming that the documents do not comply with the credit and will then be bound to honour the credit notwithstanding the discrepancies.


The case is significant in the extent to which the Court was willing to adopt a purposive interpretation of UCP 600 to accord with its underlying aims and purposes and to reflect international banking practice and the expectations of international banks and traders.


Timothy Young Q.C. and Malcolm Jarvis appeared on behalf of the Respondents, Fortis Bank and Stemcor UK Limited.


For full judgment click here.

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