Standard Virtual Matching Documents Documentary Credit In light of the United Customs 600UCP and the Decisions of the Court of Cassation – Jordanain Bulletin/600

Abstract

This paper deals in principles with Banks Documentary Credits which was established and issued Under the Uniform Customs and Practice for Documentary Credit “(2007 Revision) they were Issued by the International Chamber of Commerce”> It aims to explain in general The mechanism if the system and its operation and in specific the: doctrine of strict complain” “which is adopted by most international Banks and jurisdictions. The paper investigates the core of this criterion, its limits and some of the pitfalls, which may trap the unwary through the application of the “formal strict compliance” doctrine when the bank try to find the conformity between the terms of the credit and documents submitted to the bank by the beneficiary. The researchers focus on dealing with these issues on the practical manner among the Jordanian banking system through a survey study incorporates through a number of questions and answers, it also give some consideration for the studies of the subject and the Jordainan Legal Cases. The paper ends with some conclusions and Recommendations.