i-law

Maritime Fraud & Piracy

4

MARITIME FRAUD AND THE BANKS

MARITIME FRAUD AND THE BANKS

4.001 The documentary credit, which developed into something like its present form around the beginning of the twentieth century, provides great convenience to the parties in financing international trade. It provides very good protection against the insolvency of the parties with whom they deal, foreigners about whom they may know very little. It also provides great opportunities for the documentary fraudster, opportunities which are not very stringently curtailed by the law.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click Log In button.

Copyright © 2024 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.