|
|
|
 | |
|
Principal Steven Levy Published in Documentary Credit World Court Finds That Collecting Bank Complied With Its Obligations Under URC522Documentary Credit World February 2, 2008 In this article, published in the January 2008 edition of Documentary Credit World (DCW), Principal Steven Levy discusses the case of Monarch Gems et al. v. Malca Amit USA LLC and U.S. Bank National Association in which the U.S District Court for the Northern District of Illinois granted summary judgement to U.S. Bank National Association on a claim that U.S. Bank had failed to exercise reasonable care in processing two international documentary collections. The Court rejected the claim, finding that U.S. Bank had complied with its obligations as a collecting bank under the International Chamber of Commerce's Uniform Rules for Collections 522 (URC522). To view the entire article, please click here. For more information about Documentary Credit World, phone 1-301-330-1970 or visit www.doccreditworld.com. |
