SCC Case 71/2002 - Chapter 7 - SCC Arbitral Awards: 2004-2009
Christina Ramberg, Professor, Jur. Dr., University of Gothenburg
Ping Liu, Consultant at Baker & McKenzie, Beijing
Originally from SCC Arbitral Awards 2004-2009
VII. SCC CASE 71/2002
(1) Letter of credit -- whether the paying bank is entitled to refuse to release the money when the documents presented by the seller contain some discrepancies with the conditions in the letter of credit.
(2) Letter of credit -- in case the issuing bank does ask for a waiver of discrepancies from the buyer, whether the buyer is obliged to give a waiver.
(3) Buyer's obligation to take delivery and make payment -- after the expiry of the letter of credit.
(4) Evidence -- whether Claimant can submit new evidence outside Europe and there are sometimes difficulties with the communications.
Observations by Christina Ramberg
Observations by Ping Liu