UZINTERIMPEX JSC v STANDARD BANK PLC
[2008] Lloyd's Rep. Plus 72
COURT OF APPEAL
Before Sir Anthony Clarke MR, Lord Justice Laws and Lord Justice Moore-Bick
Banking – International trade – Letters of credit – UCP 458 – Advance payment guarantee – Tender of documents –
Sale contract – FOB terms – Bank making demand
under guarantee following dispute between buyer and seller – Whether guarantee subject
to implied term precluding excessive demand – Whether bank guilty of knowing assistance
– Whether goods had been converted – Whether duty to mitigate loss applied to conversion
– Torts (Interference with Goods) Act 1977.