Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

SEACONSAR FAR EAST LTD. v. BANK MARKAZI JOMHOURI ISLAMI IRAN

[1999] 1 Lloyd's Rep. 36

COURT OF APPEAL

Before Lord Justice Beldam, Lord Justice Ward and Sir Christopher Staughton

Banking - Letter of credit - Rejection of documents - Two shipments in respect of special equipment - In each case documents presented for payment - Bank rejected documents for discrepancies - Plaintiffs claimed for wrongful failure to honour the credit - Whether art. 16 of the Uniform Customs and Practice for Documentary Credits complied with.

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