The Bank refused to pay on letters of credit. They had required production of an original life policy, and been shown the original and a copy. The difficulties in distinguishing the two were not great, and did not justify the refusal to pay. The contract in any event explicitly allowed for a copy to be produced.
Citations:
Times 12-May-1999, [1999] All Er (D) 431, [1999] EWCA Civ 1283
Statutes:
Uniform Customs and Practice for Documentary Credits (1993) of the International Chamber of Commerce
Jurisdiction:
England and Wales
Banking
Updated: 09 December 2022; Ref: scu.146198