FORTIS BANK SA/NV AND ANOTHER v INDIAN OVERSEAS BANK

[2011] Lloyd's Rep Plus 40

COURT OF APPEAL

Before Lady Justice Arden, Lord Justice Thomas and Lord Justice Etherton

Banking - Letters of credit - Issuing bank refusing to pay under letters of credit - Whether documents complied with contract - Whether bill of lading date was date of shipment - Whether issuing bank precluded from relying on discrepancies - Whether issuing bank failed to return documents with reasonable promptness - UCP 600, article 16(c) and (f).