Menu
Cart
Force Majeure: Understanding UCP600 Article 36

Force Majeure: Understanding UCP600 Article 36

  • $ 29.00
  • Save $ 10.00


Special Just-Launched Price: $29 (normally $39)

The title says it all: This is THE definitive go-to book to understanding Force Majeure. Is COVID-19-related bank closure beyond the control of the bank, and thus a force majeure event? And if so, how are you to perform - whether bene, issuer, or counsel - as all facets of business and society worldwide are affected.

Guidance has been issued suggesting that ICC rules are not definitive in determining whether a particular event can be considered a force majeure event. In times like this, we all seek balanced, neutral expertise, and Jim Byrne would be who we go to.

To help our customers (and honor Jim), we now offer this stand-alone chapter from his UCP600: An Analytical Commentary book, written in 2010 and updated in 2018. Topics include:

  • • Definitions
  • • Application
  • • Which events are covered
  • • Liability
  • • Non-payment as a result of a decision of a public authority
  • • Failure to exercise reasonable care
  • • SWIFT and eUCP interaction
  • • Applicability to Standbys

Note: All eBook order can take up to 24 hours to process.

Who Should Read This
• LC Bankers
• Lawyers
• Compliance Officers
• Corporates
• Importers/Exporters
 Freight Forwarders
 Professionals using UCP600 for trade transactions
    Summary of Topics

    Summary of Topics

    A) Introduction ....................................................................................................... 1,294

    1. Generally.
    2. Background & Context.
    3. Application of UCP600 Article 36 & Its Impact.
    4. UCP600 Defined Terms Used in UCP600 Article 36.
    5. UCP600 Interpretations Applicable to UCP600 Article 36.
    6. Organization of this Chapter.

    B) Application......................................................................................................... 1,295

    1. Disclaimer.
    2. Enforceability.
    3. Bank.
    4. Liability or Responsibility.
    5. Consequences Arising Out of.
    6. Persons Affected.

    C) Detailed Events ................................................................................................. 1,299

    1. Covered Events.
    2. Force Majeure.
    3. Causes Beyond the Issuer’s Control.
    4. Differentiation between Listed Causes.
    5. Non-Payment as a Result of a Decision of a Public Authority.
    D) Other Issues ....................................................................................................... 1,302
    1. Situations in Which the Force Majeure Clause is Relevant: Closure on the Expiry Date.
    2. Closure Due to Force Majeure With Respect to Other Deadlines.
    3. Other Situations in Which Force Majeure is Relevant Where the Bank is Not Closed.
    4. Interruption of the Bank’s Business.
    5. Failure to Exercise Reasonable Care.
    6. Consequences of Non-Excuse.
    7. “Resumption of Business”.
    8. Types of Engagement.
    9. Force Majeure Clause in Underlying Contract.
    E) Miscellaneous Issues ........................................................................................ 1,305
    1. SWIFT.
    2. Variations.
    3. Role Under an eUCP Credit: UCP600 Article 36 would not produce a result different from the provisions of the eUCP.
    4. Applicability to Standbys.
    5. Restatement.
    F) References .......................................................................................................... 1,306
    1. Prior Versions.
    2. Other Sources