• Letters of Credit -- The Autonomy Principle
  • December 13, 2004
  • Law Firm: Mayer Brown LLP - Chicago Office
  • The parameters of the autonomy principle underlying letters of credit had been under scrutiny in the first instance and Court of Appeal decisions in Sirius International Insurance Company (Publ) -v- FAI General Insurance Limited and Others. Those expecting the House of Lords to deliberate on this further as a result of the appeal to their Lordships heard on 8 and 9 November 2004 will have been disappointed with the judgment handed down on 2 December 2004. Their Lordships considered that the autonomy principle was irrelevant to the matters to be decided.