ISSN 2394-5125
 

Research Article 


THE PROBLEM OF SEIZING DOCUMENTARY CREDITS

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH.

Abstract
This study deals with the problem of attachment in the documentary credit by showing the legal relations arising
from the documentary credit and governed by the principle of independence of the relationships arising from it by
providing sufficient guarantees to the parties to the multiple legal relations arising from the documentary credit and
seizing the amount of the credit or the cover of credit existing at the banks involved in Accreditation
implementation.
The research problem is represented in the extent of the possibility of seizing the amount of credit by the buyer (the
commanding person) or on the credit provision (the cover of credit) by the seller (the beneficiary) due to the failure
to address the standard rules and customs for documentary credits issued by the International Chamber of
Commerce in Bulletin No. (600) for the year (2007) to the problem of attachment and its mechanism, which means
that national laws related to seizure in the field of documentary credit will be applied, especially the rules of seizure
of what the debtor has with others.
As a result of the study, the researcher reached several results and recommendations, the most prominent of which is
that the basic principle is that it is not possible to seize the amounts of credit or the supplies of credit in the hands of
the issuing bank or the bank that opens the credit, as long as these sums entered into the bankís responsibility.
Proving the debt of the other party in the interest of the seizure applicant.
The study recommended that the courts adopt a criterion for the ability to seize the amount of the credit or the
consideration for the credit that the stopping condition for the sellerís entitlement to the amount of the credit has
been met upon submitting the corresponding documents. As for the buyer, he should have been entitled to recover
the amount of the credit from the bank for not implementing the credit for any reason whatsoever

Key words: documentary credits , problem of seizing .


 
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Pubmed Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH. THE PROBLEM OF SEIZING DOCUMENTARY CREDITS. JCR. 2020; 7(4): 2532-2543. doi:10.31838/jcr.07.04.388


Web Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH. THE PROBLEM OF SEIZING DOCUMENTARY CREDITS. http://www.jcreview.com/?mno=134415 [Access: June 02, 2021]. doi:10.31838/jcr.07.04.388


AMA (American Medical Association) Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH. THE PROBLEM OF SEIZING DOCUMENTARY CREDITS. JCR. 2020; 7(4): 2532-2543. doi:10.31838/jcr.07.04.388



Vancouver/ICMJE Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH. THE PROBLEM OF SEIZING DOCUMENTARY CREDITS. JCR. (2020), [cited June 02, 2021]; 7(4): 2532-2543. doi:10.31838/jcr.07.04.388



Harvard Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH (2020) THE PROBLEM OF SEIZING DOCUMENTARY CREDITS. JCR, 7 (4), 2532-2543. doi:10.31838/jcr.07.04.388



Turabian Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH. 2020. THE PROBLEM OF SEIZING DOCUMENTARY CREDITS. Journal of Critical Reviews, 7 (4), 2532-2543. doi:10.31838/jcr.07.04.388



Chicago Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH. "THE PROBLEM OF SEIZING DOCUMENTARY CREDITS." Journal of Critical Reviews 7 (2020), 2532-2543. doi:10.31838/jcr.07.04.388



MLA (The Modern Language Association) Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH. "THE PROBLEM OF SEIZING DOCUMENTARY CREDITS." Journal of Critical Reviews 7.4 (2020), 2532-2543. Print. doi:10.31838/jcr.07.04.388



APA (American Psychological Association) Style

MOHAMMAD NASER ABDUL KARIM ALKHAWALDEH (2020) THE PROBLEM OF SEIZING DOCUMENTARY CREDITS. Journal of Critical Reviews, 7 (4), 2532-2543. doi:10.31838/jcr.07.04.388