Read the full judgment text of HCCL 000208/1996 on BabelCite. This HCCL judgment was delivered on 6 November 1997.
1. The Plaintiff Southland Rubber Company Limited is the beneficiary under an irrevocable unconfirmed letter of credit issued by the Defendant which is the Hong Kong branch of the Bank of China. The Applicant of the letter of credit is one Nan Shing Development Co. Ltd. The Credit is expressly stated to be subjected to the Uniform Customs and Practice for Documentary Credits (1993 Revision) ICC Publication No.500 (" UCP 500 "). The underlying contract was a shipment of 1,000 metric tonnes of nat