Trade Finance Law
About This Course
By the end of the course, participants should be able to:
1. Demonstrate awareness and understanding of the principal mechanisms devised for the purposes of effecting payment or incentivizing performance of international sales transactions, in particular the legal and economic framework within which these instruments operate;
2. Describe and explain the legal and economic differences between the different methods of trade finance and the fundamental legal concepts and doctrines underlying the financing of international sales transactions;
3. Describe and explain the key aspects of the harmonized regimes applicable to trade finance, including the juridical nature of those regimes and their inter-relationship with domestic law concepts;
4. Be familiar with and apply the range of approaches adopted by different jurisdictions to issues not covered by the harmonized regimes;
5. Be familiar with the standardized documentation underlying trade finance operations; and
6. Have developed an awareness and understanding of international litigation arising out of trade finance operations, including the documentary and non-documentary rights of recourse available to the parties and the jurisdictional and choice of law issues that arise out of trade finance litigation.
What You'll Learn
Trade Finance Law considers the different legal structures used to effect payment under, and disincentives breaches of, international agreements for the supply of goods and services. The course analyses and compares documentary and standby letters of credit, international drafts and forfaiting, performance bonds and first demand guarantees and export credit guarantees. Key topics will include the structure, juridical nature and obligational content of the aforementioned instruments; the nature of the harmonised regimes and their interaction with domestic law; the principle of strict compliance and its relaxation; documentary and non-documentary forms of recourse; the autonomy principle and its exceptions; and the conflict of laws principles applicable to autonomous payment undertakings. The course should be of interest to participants who have already studied other components of international trade and/or who have an interest in international banking operations.
Entry Requirements
A good Bachelor's or Juris Doctor degree in Law