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UCP 600: Confirming Banks and Nominated Banks
by Edwin Borrini
Jones Day - London Office
David M. Fricker
Jones Day - London Office
Amy Kho
Jones Day - London Office
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November 4, 2009
Previously published on October 2009
Fortis Bank S.A./N.V. and Stemcor UK Limited v Indian Overseas Bank is one of the first cases to consider the language of the current edition of the Uniform Customs and Practice for Documentary Credits ("UCP 600") relating to the right of reimbursement owed by an Issuing Bank to a Nominated Bank or Confirming Bank in respect of a negotiated or honoured credit.
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