Lloyd's Maritime and Commercial Law Quarterly
DOCUMENTARY CREDITS AND REJECTED DOCUMENTS
Hing Yip Hing Fat Co. Ltd. v. Daiwa Bank Ltd.
The recent Supreme Court of Hong Kong decision in Hling Yip Hling Fat Co. Ltd. v. Daiwa Bank Ltd.1 involved a not untypical transaction for the sale of a quantity of silicon to be shipped from China to Japan, where it was to be on-sold. The defendant bank issued an irrevocable documentary credit for U.S. $376,000 to cover the sale price due to the plaintiff beneficiary. While, in the result, the court held that none of various objections taken to the documents tendered were valid, the
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