The Business Law Reports
[2017] Bus LR 1671
Queen’s Bench Division
Deutsche Bank AG
v
CIMB Bank Berhad
[2017] EWHC 1264 (Comm)
2017 May 15;
25
Blair J
Banking— Letter of credit— Payment— Confirming bank claiming to have paid beneficiary under letters of credit and seeking reimbursement from issuing bank— Issuing bank refusing to accept statement alone and making request for further information putting confirming bank to proof of payments to beneficiary— Whether issuing bank required to accept statement by confirming bank that it had paid beneficiary or entitled to proof of payment to beneficiary— Whether further information to be ordered—
CPR
r 18.1
—
Uniform Customs and Practice for Documentary Credits (UCP 600) (2007 rev), arts 2, 7(c)