Susmitha, P Mallaya; Dr.Varkey, A M(Cochin University of Science and Technology, September 15, 2007)
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Abstract:
This is a study in international trade law. Documentary credits are the
most common method of payment for goods in international trade. In India also
these instruments are used both in national and international trade. The law
governing these transactions remains haphazard. This study identifies the
deficiencies in the regulatory framework for documentary credits in India. It
primarily focuses on those areas which exhibits a lack of equality and justice in
its operation. An attempt has also been made to identify the rights and duties of
parties involved in the transaction. The reasons for the increase of fraudulent
activities associated with the documents executed in the documentary credit
transactions are also examined. How far the law in India is sufficient to ensure
fair business practice in international trade financing is also examined.
Methodology adopted for the study is analytical. The statutory provisions, rules
and case laws under these provisions have been examined. An empirical study
by personal interview with the bankers is also made to ascertain the practice of
bankers in India.
Description:
School of
Legal Studies, Cochin University of Science and Technology