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V. The Bank’s Security in the Letter of Credit Transaction
(13,189 words)

Volume IX: Commercial Transactions and Institutions | Chapter 5 (1980): Letters of Credit

Completed in September 1978

Boris Kozolchyk

A. Introduction

101. Security in perspective. – Security devices are not the most important form of protection enjoyed by the issuing bank in the letter of credit transaction. There is no substitute for the borrower-customer’s ability and willingness to repay th…

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Boris Kozolchyk, “V. The Bank’s Security in the Letter of Credit Transaction”, in: International Encyclopedia of Comparative Law Online, Edited by: U. Drobnig, R. David, H. H. Egawa, R. Graveson, V. Knapp, A. T. Von Mehren, Y. Noda, S. Rozmaryn, V. M. Tschchikvadze, H. Valladão, H. Yntema, K. Zweigert. Consulted online on 22 January 2022 <http://dx.doi.org/10.1163/2589-4021_IECO_COM_090505>
First published online: 2018



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