Should the parties to a documentary credit include a dispute resolution clause in their letters of credit

Question:

Should the parties to a documentary credit include a dispute resolution clause in their letters of credit or allow disputes to be resolved through litigation?

Are there any alternatives to arbitration that could be used to minimize the time and cost of litigation or arbitration?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

International Business Law And The Legal Environment

ISBN: 9781138850989

3rd Edition

Authors: Larry A DiMatteo

See More Books

Question Posted: Nov 25, 2024 02:00 AM

See More Questions

Consider a corporate bond with a 10.5% coupon rate, paid semi-annually, $1000 par value and a current market price of $766.70. It matures in exactly 20 years. What is the yield to maturity (YTM) on...
You have been hired to develop a DSS for a car company such as Ford or GM. Describe how you would use both data-driven and model-driven DSSs.
What are the most efficient dimensions for an asphalt trapezoidal channel to carry 3 m3/s of water at a slope of 0.0008?
Should the parties to a documentary credit include a dispute resolution clause in their letters of credit or allow disputes to be resolved through litigation? Are there any alternatives to...
1. Under a system of marketable pollution permits, a firm with ___________ (low/high) abatement costs will buy permits from a firm with ___________ (low/high) abatement costs. 2. Arrow up or down: A...
Karina is a North Carolina resident. She is required to file a North Carolina return. She received $580 in North Carolina state bond interest. She also received $1,800 in Texas local bond interest....
One topic of great interest at a recent global banking conference was dealing with letters of credit in China. As those who use Chinese letters of credit know, the Chinese will reject a letter of...
A company engaging in the manufacture and sale of telecommunications equipment entered into an agreement with the Imperial Government of Carpathia to install and maintain certain telecommunications...
Consider the unadjusted trial balance of Princess, Inc., at August 31, 2012, and the related month-end adjustment data. Adjustment data at August 31, 2012, include the following: a. Accrued...
MARKOV ANALYSIS The personal computer industry is very fast moving and technology provides motivation for customers to upgrade with new computers every few years. Brand loyalty is very important and...
Question 13 Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and S3. S1 S2 S3 A $60 ...
Given an array of four integers, write a program that populates a new array with the square of the elements in the given array. Assume $s0 stores the memory location of the first element of the given...
Juhn believes that adding a second fruit loader will substantially improve the firms efficiency. He estimates that a two-person crew, still acting like a single-server system, at the loading gate...
You have a 1993 Nissan that is expected to run for another three years, but you are considering buying a new Hyundai before the Nissan wears out. You will donate the Nissan to Goodwill when you buy...
Gregg Company recently issued two types of bonds. The first issue consisted of 20-year straight debt with an 8 percent annual coupon. The second issue consisted of 20-year bonds with a 6 percent...
Feller Company purchased a site for a limestone quarry for $100,000 on January 2, 2019. It estimate that the quarry will yield 400,000 tons of limestone. It estimates that its retirement obligation...

Should the parties to a documentary credit include a dispute resolution clause in their letters of credit

Question:

Step by Step Answer:

International Business Law And The Legal Environment

Students also viewed these Business questions