Table of Content
Introduction 3
Documentary Credit and the Importance of Autonomy Principle 3
Documentary Credit ….3
Autonomy Principle of Documentary Credits 4
Fraud Exception Comes into Being 5
The Case of Szteijn v. J Henry Schroder Banking Corp 5
Fraud Exception 6
The Narrow Applying Principle of Fraud Exception 6
The Case of United City Merchants v. The Royal Bank of Canada 6
Surprising Narrow Basis of Fraud Exception 7
The Practical Jurisprudence around the World 9
Fraud Exception in United Kingdom 9
Fraud Exception in the USA 9
Fraud Exception in Singapore 10
Conclusion 11
References 12