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Banking Practice and Finance | ||||
The DOCDEX system is a rapid and cost-effective means of resolving letter of credit disputes through an expert decision. 'Collected DocDex Decisions 2009-2012' included a panel of three experts appointed by ICC’s Centre for Expertise who render decisions based on documents submitted by the disputing parties. The Experts must make their decision within only 30 days after receipt of all documents. In most cases, a DOCDEX decision has deterred parties from going to court. Covering cases decided from 2009-2012, this is the third volume in the series of DOCDEX Decisions. 35 Decisions provide valuable insights into the reasoning behind the experts’ final judgments on the disputes in question. Decisions presented in this volume are about some of the most controversial provisions of the latest revision of ICC’s universally used rules on letters of credit, UCP 600. The collection also contains cases dealing with UCP 500, UCP 222, URC 522 and URDG 458. It gives answers to complex questions like: - Does the fact that the Respondent delivered the documents to the applicant make it liable to pay an amount in excess of the documentary credit value? - Is the issuing bank entitled to claim a refund, with interest, of reimbursement made to the respondent when its refusal notice does not accord with the requirements stated under UCP 600? - Can an error in the commercial invoice, packing list and certificate of quality – which constituted a reversal of the order of the route of shipment covered by the L/C – be accepted as a typing error? The DOCDEX Decisions collections complement the ICC Banking Commission Opinions. Together, they are indispensable aids to practitioners seeking to understand how ICC rules are applied in daily practice. | ||||
