It is often argued that international financial regulation has been substantially strengthened over the past decades through the international harmonization of financial regulation. There are, however, still frequent outbreaks of painful financial crises, including the recent 2008 global financial crisis. This raises doubts about the conventional claims of the strengthening of international financial regulation. This book provides an in-depth political economy study of the adoptions in Japan, Korea and Taiwan of the 1988 Basel Capital Accord, the now so-called Basel I, which has been at the center of international banking regulation over the past three decades, highlighting the domestic politics surrounding it. The book illustrates that, despite banks' formal compliance with the Accord in these countries, their compliance was often cosmetic due to extensive regulatory forbearance that allowed their real capital soundness to weaken. Domestic politics thus ultimately determined national implementations of the Accord. This book provides its novel innovative study of the Accord through scores of interviews with bank regulators and analysis of various primary documents. It suggests that the actual effectiveness of international financial regulation relies ultimately on the domestic politics surrounding it. It implies as well that the past trend of international harmonization of financial regulation may be illusory, to at least some extent, in terms of its actual effectiveness. This book may interest not only political economists but also scholars working on the intersection of law, economics and institutions.

The VAT Carousel Fraud has seriously undermined the financial integrity of the European Union Emissions Trading Scheme (EU ETS). This timely book is the first to give an overview of fraud in the carbon market. Written by a former broker, it presents unique material on the carbon fraud mechanics and analyses the missing trader fraud (VAT fraud) on European carbon allowances markets with a focus on financial and organised crime issues. Fraud and Carbon Markets: The Carbon Connection assesses the weaknesses of the Kyoto Protocol and environmental markets, using statistics as a forensic tool on the capital markets. It describes specific cases, the court investigations and various mechanisms. It addresses issues of money laundering and international fraud on capital markets, such as stock manipulation, by exploring the financial mechanisms of the fraud, their impact on the market behaviour and the consequences on their econometric features. Researchers and students in climate change policy, environmental finance, financial law, organised crime, forensic statistics, financial regulation and risk management as well as financial regulators and policy makers will find this book of great interest.

The book sheds light on the perhaps most important legal conundrum in the context of sovereign debt restructuring: the holdout creditor problem. Absent an international bankruptcy regime for sovereigns, holdout creditors may delay or even thwart the efficient resolution of sovereign debt crises by leveraging contractual provisions and, in an increasing number of cases, by seeking to enforce a debt claim against the sovereign in courts or international tribunals. Following an introduction to sovereign debt and its restructuring, the book provides the first comprehensive analysis of the holdout creditor problem in the context of the two largest sovereign debt restructuring operations in history: the Argentine restructurings of 2005 and 2010 and the 2012 Greek private sector involvement. By reviewing numerous lawsuits and arbitral proceedings initiated against Argentina and Greece across a dozen different jurisdictions, it distils the organizing principles for ongoing and future cases of sovereign debt restructuring and litigation. It highlights the different approaches judges and arbitrators have adopted when dealing with holdout creditors, ranging from the denial of their contractual right to repayment on human rights grounds to leveraging the international financial infrastructure to coerce governments into meeting holdouts' demands. To this end, it zooms in on the role the governing law plays in sovereign debt restructurings, revisits the contemporary view on sovereign immunity from suit and enforcement in the international debt context, and examines how creditor rights are balanced with the sovereign's interest in achieving debt sustainability. Finally, it advances a new genealogy of holdouts, distinguishing between official and private sector holdouts and discussing how the proliferation of new types of uncooperative creditors may affect the sovereign debt architecture going forward. While the book is aimed at practitioners and scholars dealing with sovereign debt and its restructuring, it should also provide the general reader with the understanding of the key legal issues facing countries in debt distress. Moreover, by weaving economic, financial, and political considerations into its analysis of holdout creditor litigation and arbitration, the book also speaks to policymakers without a legal background engaged in the field of international finance and economics.

Provides a systematic assessment of FSB operations, from standard setting to implementation review in order to identify the power wielded by government networks in global financial governance. Develops a novel theory of legislative reluctance as a limit to the power of government networks, showing its strong inferential leverage in comparison with a variety of competing explanations drawn from economics, political science, and law. Engages in the debate on the role of government networks in global governance with a well-founded but controversial argument that questions the role of national parliaments in managing global economic affairs in the public interest. Suggests a novel institutional solution to the effectiveness-legitimacy dilemma that global governance forums face, combining the advantages of functional specialization and electoral accountability.

This collection of 22 commissioned essays from scholars across numerous fields responded to the question: What are the most fundamental things you can say concerning the interrelations between the institutions of government and property? Contributing authors were asked to address this question in a positive analysis and that their essay penetrate to the deepest (most fundamental) levels of property-government organization. Their contributions are illuminating.

Scholarly analysis of the principal causes of the global economic crash of 2008 has largely ignored any investigation of a part played by white-collar crime in precipitating the collapse. Ryder is one of the few who is not content to let the blame lie with sub-prime mortgages and the inherent risks of the markets. He enquires into the relationship between the latter-day economic chaos and crime, particularly mortgage fraud and the examination he offers is compelling. Through a distillation of massive amounts of materials drawn from two critical global financial centers, the United States and the United Kingdom, Ryder concludes, reliant on tangible empirical examples, that the prevalence of white-collar fraud was an important constituent contributor to the financial crisis.' - Michelle Gallant Ph.D, Faculty of Law, University of Manitoba'In this well-researched and thoughtful new book, Nic Ryder makes a strong case for thinking more about the role of white collar crime in causing the financial crisis, and why prosecution has not been a bigger part (particularly in the UK) of the authorities' responses to it.' - Peter Cartwright, School of Law, University of Nottingham Concentrating on the relationship between the 2007 financial crisis and white-collar crime in both the United States of America and the United Kingdom this unique book asserts that such activity was an important variable that contributed towards the crisis. It also reveals a number of similarities and differences in the approach towards white-collar crime emanating from the financial crisis. Offering an important analysis of the factors which contributed to the global financial crisis and the role played by economic crime, the author provides an insightful critique of the legislative, regulatory and enforcement responses on both sides of the Atlantic. Specific examples include mortgage fraud, predatory lending, Ponzi fraud schemes, market misconduct and the manipulation of LIBOR. Nicholas Ryder's conclusions are powerful, and those responsible for policing the financial markets should take careful note of the recommendations he puts forward. This timely book will be of great use to both teachers and students of financial crime relevant modules. It will also appeal to policy-makers in government departments, law enforcement agencies and financial regulatory agencies, as well as professionals within the financial services sector, law and accountancy. Contents: 1. Introduction 2. The Financial Crisis an Alternative Interpretation - Part I 3. The Financial Crisis an Alternative Interpretation Part II 4. United States of America Policy, Legislative, Regulatory and Enforcement Responses 5. United Kingdom - Policy, Legislative, Regulatory and Enforcement Responses 6. Conclusions and Recommendations Bibliography Index

Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective.

The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance.

This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

This book offers an interdisciplinary overview of the role of law in modern capitalism in the context of financial crisis. In this work, the reader will find a discussion of key issues relevant to the crisis that have occupied the pages of the financial press since 2007 including an assessment of the meltdown of the sub-prime mortgage market, the credit crunch, the European debt crisis and the turmoil in Greece, plus a series of theoretical contributions that are aimed to challenge perceptions of the market-state relationship and the place of law within it. The book includes a methodological defence of the state-market dichotomy, a critique of the tenets of neoclassical economics, and an evaluation of what the financial crisis heralds for the future of the political economy of western democracies. Ioannis Glinavos argues that it is a mistake to associate markets with freedom and states with oppression, and suggests that more choice for consumers can -and does- mean less choice for citizens. The book suggests that a new social contract is needed to ensure the survival of both capitalism and democracy. In contributing a unique, legal perspective to the underlying dynamics of the financial crisis, this book will be valuable to scholars and students of regulation, financial markets and economic development.

It is often argued that international financial regulation has been substantially strengthened over the past decades through the international harmonization of financial regulation. There are, however, still frequent outbreaks of painful financial crises, including the recent 2008 global financial crisis. This raises doubts about the conventional claims of the strengthening of international financial regulation. This book provides an in-depth political economy study of the adoptions in Japan, Korea and Taiwan of the 1988 Basel Capital Accord, the now so-called Basel I, which has been at the center of international banking regulation over the past three decades, highlighting the domestic politics surrounding it. The book illustrates that, despite banks' formal compliance with the Accord in these countries, their compliance was often cosmetic due to extensive regulatory forbearance that allowed their real capital soundness to weaken. Domestic politics thus ultimately determined national implementations of the Accord. This book provides its novel innovative study of the Accord through scores of interviews with bank regulators and analysis of various primary documents. It suggests that the actual effectiveness of international financial regulation relies ultimately on the domestic politics surrounding it. It implies as well that the past trend of international harmonization of financial regulation may be illusory, to at least some extent, in terms of its actual effectiveness. This book may interest not only political economists but also scholars working on the intersection of law, economics and institutions.

The 2007 to 2009 financial crisis resulted in the re-emergence of the debate on financial regulation and its relationships with other macroeconomic policies, particularly monetary policy. In Europe, the financial crisis was followed by the sovereign debt crisis, as the bail-out of the financial sector put strains on public finances in several countries. The sequence of events called for a strengthening of the union, ranging from a common framework for supervisory policy that could minimize the risk of unforeseen bank or country defaults to a common resolution mechanism that could set equal rules across countries and reduce ex-ante mis-incentives to risk-taking and moral hazard. This analysis of the state of and prospects for financial regulation examines the lending and saving behavior of banks and households as well as their borrowing activities in order to understand the conflicting priorities and complicated decisions involved in the development and implementation of financial legislation.

Offering a comparative case study of transitional justice processes in Afghanistan and Nepal, this book critically evaluates the way the "local" is consulted in post-conflict efforts toward peace and reconciliation. It argues that there is a tendency in transitional justice efforts to contain the discussion of the "local" within religious and cultural parameters, thus engaging only with a "static local," as interpreted by certain local stakeholders. Based on data collected through interviews and participant observation carried out in the civil societies of the respective countries, this book brings attention to a "dynamic local," where societal norms evolve, and realities on the ground are shaped by shifting power dynamics, local hierarchies, and inequalities between actors. It suggests that the "local" must be understood as an inter-subjective concept, the meaning of which is not only an evolving and moving target, but also dependent on who is consulted to interpret it to external actors. This timely book engages with the divergent range of civil society voices and offers ways to move forward by including their concerns in the efforts to help impoverished war-torn societies transition from a state of war to the conditions of peace.

This book brings together the issues surrounding banking secrecy and confiscation of criminal proceeds. The book examines the existing legal agreements at the international, regional and national levels and their interaction in the substantive areas of confiscation, anti-money laundering and banking confidentiality laws. It looks at how these agreements have been applied in offshore financial centers and demonstrates that despite a number of legally binding UN Conventions as well as global anti-money laundering recommendations, the implementation of them is often lukewarm by those Parties who have ratified the Convention and adopted obligations, because of this the confiscation legislation is incompatible with strict banking confidentiality laws. The work draws on the experience of criminologists to offer critical insight into the legislative frameworks designed to deal with banking secrecy and confiscation in offshore financial centers. It goes on to offer suggestions for measures that may be taken by major economies to circumvent the lack of cooperation by offshore financial centers as intolerance towards money laundering grows in light of recent political and economic events. This book will be of particular interest to students and scholars of Law, Finance and Criminology.

During the last ten years the Islamic banking sector has grown rapidly, at an international level, as well as in individual jurisdictions including the UK. Islamic finance differs quite substantially from conventional banking, using very different mechanisms, and operating according to a different theory as it is based on Islamic law. Yet at the same time it is always subject to the law of the particular financial market in which it operates. This book takes a much-needed and comprehensive look at the legal and regulatory aspects which affect Islamic finance law, and examines the current UK and international banking regulatory frameworks which impact on this sector. The book examines the historical genesis of Islamic banking, looking at how it has developed in Muslim countries before going on to consider the development of Islamic banking in the UK and the legal position of Islamic banks within English law. The book explores company, contract, and some elements of tax law and traces the impact it has had on the development of Islamic banking in the UK, before going on to argue that the current legal and regulatory framework which affects the Islamic banking sector has on certain occasions had an unintended adverse impact on Islamic banking in the UK. The book also provides an overview of the Malaysian experience in relation to some of the main legal and regulatory challenges in the context of Islamic banking and finance.

At a time when financial crime routinely crosses international boundaries, this book provides a novel understanding of its spread and criminalisation. It traces the international convergence of financial crime regulation with a uniquely comparative approach that examines key institutional and state actors including the European Union, the International Organization of Securities Commissions, as well as the United States, the United Kingdom, Switzerland, France, Italy and Germany, all countries that harbour some of the most influential stock exchanges in the Western world. The book describes and documents the phenomenon of internationalisation of securities frauds - such as insider trading and market manipulation - and the laws criminalising those acts, most notably those responding to recent dramatic transformations in securities markets, high frequency trading, and benchmark manipulation. At the European level, it shows the progressive uniformisation of laws culminating in the 2014 European Union Market Abuse Regulation. The book argues that criminal prohibitions against internationalised market abuse must be understood as an economic and legal imperative to protect financial markets against activities that imperil its integrity, compromising the confidence of investors and thus affecting the economy as a whole. The book is supported by an extensive review of the most significant scholarship in each country.

The financial market events in 2007-2009 have spurred renewed interest and controversy in debates regarding financial regulation and supervision. This book takes stock of the developments in EU legislation, case law and institutional structures with regards to banking regulation and supervision, which preceded and followed the recent financial crisis. It does not merely provide an update, but anchors these developments into the broader EU law context, challenging past paradigms and anticipating possible developments. The author provides a systematic analysis of the interactions between the content of prudential rules and the mechanisms behind their production and application

European Prudential Banking Regulation and Supervision includes discussions of the European banking market structure and of regulatory theory that both aim to circumscribe prudential concerns. It scrutinises the content of prudential norms, proposes a qualification of these norms and an assessment of their interaction with other types of norms (corporate, auditing and accounting, consumer protection, competition rules). It also features an analysis of the underpinning institutional set-up and its envisaged reforms, focusing on the typical EU concerns related to checks and balances. Finally, the book attempts to revive the debate on supervisory liability, in light of the developments discussed.

This book will be of great value to all those interested in financial stability matters (practitioners, policy-makers, students, academics), as well as to EU law scholars.

Debt-for-development exchanges are an important financing tool for development. They make debt relief more politically and practically attractive to donor countries, and serve the development of recipient countries through the cancellation of external debt and the funding of important development projects. This book commences by chronicling the emergence of debt-for-development exchanges from their forebears, debt-equity exchanges, and analyzes why debt for development suffers from very few of the problems that plagued debt equity. The book analyzes the different types of debt-for-development exchanges and the different ways they have been used by all donor nations that have made use of them. The book then explores a range of critical perspectives on exchanges and concludes by considering a wide range of new and innovative uses for the funds generated by exchanges.

This title was first published in 2001. A developing country that is pursuing free market economic policies requires a modern commercial law infrastructure, which enables the emerging economy to have in place properly functioning credit and other financial systems which stimulate domestic and foreign investment. This book provides a comparative analysis of the law and practice of debt recovery in India, Sri Lanka and Malaysia, demonstrating that a suitable debt-recovery system for a developing economy requires not only good laws and judicial remedies, but also appropriate financial industry practices such as credit and loan supervision policies.

One of the most-followed antitrust cases of recent times-United States v. Apple-reveals an often-missed truth: what Americans most fear is competition itself. In 2012 the Department of Justice accused Apple and five book publishers of conspiring to fix ebook prices. The evidence overwhelmingly showed an unadorned price-fixing conspiracy that cost consumers hundreds of millions of dollars. Yet before, during, and after the trial millions of Americans sided with the defendants. Pundits on the left and right condemned the government for its decision to sue, decrying Amazon's market share, railing against a new high-tech economy, and rallying to defend beloved authors and publishers. For many, Amazon was the one that should have been put on trial. But why? One fact went unrecognized and unreckoned with: in practice, Americans have long been ambivalent about competition. Chris Sagers, a renowned antitrust expert, meticulously pulls apart the misunderstandings and exaggerations that industries as diverse as mom-and-pop grocers and producers of cast-iron sewer pipes have cited to justify colluding to forestall competition. In each of these cases, antitrust law, a time-honored vehicle to promote competition, is put on the defensive. Herein lies the real insight of United States v. Apple. If we desire competition as a policy, we must make peace with its sometimes rough consequences. As bruising as markets in their ordinary operation often seem, letting market forces play out has almost always benefited the consumer. United States v. Apple shows why supporting cases that protect price competition, even when doing so hurts some of us, is crucial if antitrust law is to protect and maintain markets.

The Basel Accord - now commonly referred to as "Basel I" - has exerted a profound influence on international financial politics and domestic prudential financial sector regulatory policy yet great controversy has always surrounded the Accord's impact on the safety and competitiveness of the world's largest financial institutions and the evolution of trans-national regulatory convergence.

The author provides a comprehensive examination of the impact of the 1988 Basel Accord on the capital adequacy regulations of developed economies. The study seeks to understand if the Accord affected broad or isolated convergence of 18 developed states' bank credit risk regulations from 1988 to 2000, and also to understand what political economic variables influenced levels of regulatory isomorphism. Quillin creates a quantitative database of developed states' interpretations of the Basel rules which shows that some persistent distinction remained in the way states implemented the Accord. He also explores why convergence emerged among a subset of states, yet not others, by testing a battery of political economic explanations.

Globalisation has opened new avenues to corruption. Corrupt practices are proliferating not only within national borders but across different countries. Despite many national and international anti-corruption bodies and strategies, corruption far from being eradicated. There is an urgent global demand for a better understanding of corruption as a phenomenon and a thorough assessment of the existing regulatory remedies, towards the establishment of more effective (and possibly uniform) anti-corruption measures. Our previous collection, Corruption in the Global Era (Routledge, 2019), analysed the causes, the sources, and the forms of manifestation of global corruption. An ideal continuation of that volume, this book moves from the analysis of the phenomenon of corruption to that of the regulatory remedies against corruption and for the promotion of integrity. Corruption, Integrity and the Law provides a unique interdisciplinary assessment of the global anti-corruption legal framework. The collection gathers top experts in different fields of both the academic and the professional world - including criminal law, EU law, international law, competition law, corporate law and ethics. It analyses legal instruments adopted not only at a supranational level but also by different countries, in the attempt of establishing an interdisciplinary and comparative dialogue between theory and practice and between different legal systems towards a better global promotion of integrity. This book will be of value to researchers, academics and students in the fields of law, criminology, sociology, economics, ethics as well as professionals - especially solicitors, barristers, businessmen and public servants.

This book proposes a new way of thinking about the controversial and complex challenges associated with the regulation of high-cost credit, specifically payday lending. These products have received significant attention in both the media and political arena. The inadequacy of regulatory interventions has created ongoing problems with the provision of high-cost credit, particularly for consumers with lesser bargaining power and who are already financially vulnerable. The book tackles two specific gaps in the existing literature. The first involves inadequate analysis of the relevant philosophical concepts around high-cost credit, which can result in an over-simplification of what are particularly complex issues. The second is a lack of engagement in both the market and lived experience of borrowers, resulting in limited understanding of those who use these financial products. The Future of High-Cost Credit explores the theoretical grounding, policy initiatives and interdisciplinary perspectives associated with high-cost credit, making a novel and insightful contribution to the existing literature. The problems with debt extend far beyond the legal sphere, and the book will therefore be of interest to many other academic disciplines, as well as for those working in public policy and 'the third sector'.

The subject of bank stability has been under a great amount of political and legislative scrutiny since the mid-2007 to late-2009 global financial crisis. However, these efforts have centred on developed economies. Little coverage is given to strategies adopted by many developing economies. While there is a global discourse on the subject of insolvency generally, there is ample scope to contribute to the growing body of work on the narrow subject of bank insolvencies. This book provides a unique perspective on an emerging theme in at least two respects. First is the focus on selected developing economies and selected developed economies in the EMEA region alongside cross-border developments, with the objective of deciphering the regulatory approach to bank insolvencies. The second is the analytical consideration of methods that may be implemented to preclude or resolve bank insolvencies in developing economies. This book explores the nexus between developing economies and their banking institutions. Developing economies are acutely dependent on their banks for the functioning of their cash-based economies. Recent events, however, suggest a weakness in the long-term viability of some of their banks and a mixed-bag regulatory approach to redress this weakness. This book evaluates the effectiveness of regulatory frameworks in selected developing economies that are designed to prevent or resolve the insolvency of banks. At a time of global economic uncertainty, this book will prove to be a valuable resource to the discourse on the viability of banks, businesses, and economies in developing States.

This enlightening volume provides an invaluable guide for those perplexed by the seemingly intractable problems of financial crises, sovereign distress, and government guarantees. Contributors include an all-star cast of leading figures in the field. Highly recommended' - Geoffrey Miller, New York University, US'The history of the 2007-09 and possibly beyond near-global financial crisis needs to be examined carefully in order to identify and understand the causes, the transmission across countries, the harm to macroeconomies, the public policies adopted, the effectiveness of such policies, and the lessons to be learned to prevent or at least mitigate future such crises. This volume contributes to this task. It brings together under one cover the analyses of the various aspects of the crisis by experts in each area. It should be priority reading for serious students of the crisis.' - George G. Kaufman, Loyola University Chicago, US 'The combination of the skills of the lawyer and of the economist has proved increasingly fruitful, developing both understanding and policy in many areas of life, such as accident prevention, crime prevention, and healthcare. This book follows the precedent of these areas and assembles a group of lawyers and economists who by their contributions, consider how best to deal with financial crises, and how to make their future occurrence less likely. It is both intellectually stimulating and practically important. The authors and editors are to be congratulated.' - Geoffrey Wood, Cass Business School and University of Buckingham, UK Financial Crisis Containment and Government Guarantees analyzes the international community's commitment to forging enhanced, well thought-out, mechanisms for containing systemic risks in the context of a highly interconnected global financial framework which incorporates ongoing financial innovation. While use of government guarantees is a central theme, the book also analyses the roles played by prudential regulators, central banks, deposit insurers and treasuries in dealing with the crisis. The book examines how governments, central banks, regulators and deposit insurance agencies have worked together to contain the global financial crisis. Additionally, it focuses on efforts to overcome ongoing obstacles, as well as the most important proposals to improve safety nets, both at the national level and internationally. This concise and detailed book will strongly appeal to students in law, economics and finance, law practitioners, policymakers in central banks and ministries of finance, as well as deposit protection agencies and regulatory agencies. Contributors: L.C. Buchheit, G. Calice, J. Chen, C.M. Cumming, C. Enoch, A. Estrella, M. Faure, G.G. Garcia, C.A.E. Goodhart, G. Grande, M. Gulati, M. Gudmundsson, K. Heine, E. Hupkes, J.R. LaBrosse, R.M. Lastra, A. Levy, J. Manns, D.G. Mayes, J.F. McCollum, M.J. Nieto, J.J. Norton, R. Olivares-Caminal, F. Panetta, C. Pleister, S. Schich, D. Singh, J. Williams, A.E. Wilmarth, Jr., A. Zaghini

Bills of exchange and bankers' documentary credits are the fundamental financial instruments and mechanism of settlement for international trading transactions. Bills of Exchange and Bankers' Documentary Credits, 4th Edition provides a highly readable, yet in-depth account of the law and practice relating to bills of exchange, cheques and bankers documentary credits. The authors explain how the Bills of Exchange and other instruments work in practice, drawing particular attention to the problems which are likely to arise and how best to resolve them. Furthermore, because the parties to financial transactions are often based in different countries, it deals with jurisdiction and choice of law to enable you to make the most informed and profitable choices.

Presents a systematic study of the law of bankers' commercial credits.
Bringing together materials which are to be found scattered throughout the various series of English law reports, this title presents a systematic study of the law relating to commercial credits as applied today. It also contains a detailed exposition of the ICC's Uniform Customs and Practice for Documentary Credits.
Contents
* Provides information on the mechanism, operation and types of credits
* Analyses in detail the contractual relationships arising out of issue of credits; the law and practice in relation to transfer of credits; jurisdiction and conflict of laws, etc.
* Details the ICC's Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits and the ICC's International Standby Practices, ISP98
* Assesses the impact of the Rome Convention and the Brussels and Lugano Conventions in relation to applicable law and jurisdiction.

eBook available with sample pages: 0203403932