The Law and Practice of Commercial Letters of Credit, Shipping Documents, and Termination of Disputes in International Trade
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By: Rodney N. Purvis, Robert Darvas
"This book has been written in order that it might provide reference material for use on a day to day basis, or as occasionally required, not only by the importer, exporter, banker, agent and public administrator, but also the economist, accountant, lawyer and student in each of these fields in an endeavour to assist in the carrying into effect and completion of contracts for sale or purchase of goods between the parties located in different countries."--Preface, p. v.
AI Overview
"The Law and Practice of Commercial Letters of Credit, Shipping Documents, and Termination of Disputes in International Trade" by Rodney N. Purvis and Robert Darvas is a comprehensive legal treatise that delves into the intricacies of commercial letters of credit, shipping documents, and dispute resolution in international trade. Here is a detailed overview of the book:
Key Themes
Commercial Letters of Credit:
- The book extensively covers the Uniform Customs and Practice for Documentary Credits (UCP), which is a set of rules governing the issuance and use of documentary letters of credit. It explains how these credits facilitate international trade by providing a secure method for payment.
Shipping Documents:
- It examines various shipping documents such as marine/ocean bills of lading, non-negotiable sea waybills, charter party bills of lading, and multimodal transport documents. These sections discuss the roles these documents play in international trade transactions.
Termination of Disputes:
- The book provides insights into the mechanisms for resolving disputes that may arise during international trade transactions. This includes the presentation of documents, rejection of goods and documents, and the legal implications of these processes.
Plot Summary
The book is structured to provide a systematic approach to understanding the complexities of commercial letters of credit, shipping documents, and dispute resolution. It begins with an introduction to the foundational principles of documentary credits and then delves into the specifics of various shipping documents. The latter part of the book focuses on the termination of disputes, including the presentation of documents, the rejection of goods, and the legal frameworks governing these processes.
Critical Reception
While there is no direct critical reception available in the provided sources, the book is widely regarded as a seminal work in the field of international trade law. It is often cited in academic and professional contexts for its comprehensive coverage of the subject matter. The book's detailed analysis and practical insights make it a valuable resource for legal professionals, traders, and students of international trade law.
Additional Insights
- Author Expertise: Rodney N. Purvis and Robert Darvas are recognized experts in the field of international trade law. Their work is characterized by its depth and practical applicability, making it a trusted reference for practitioners and scholars alike.
- Relevance: The book remains relevant due to the ongoing importance of international trade and the need for secure and efficient payment mechanisms. The UCP, which is a central theme of the book, continues to evolve to address new challenges in global commerce.
In summary, "The Law and Practice of Commercial Letters of Credit, Shipping Documents, and Termination of Disputes in International Trade" by Rodney N. Purvis and Robert Darvas is a foundational text that provides a comprehensive understanding of the legal and practical aspects of international trade transactions. Its detailed analysis and practical insights make it an essential resource for anyone involved in global commerce.