Letter of credit fraud is becoming increasingly common and ever more sophisticated. Although the Uniform Customs and Practice Rules 600 (UCP 600) is frequently incorporated by express agreement into letters of credit, it makes limited reference to fraud, leaving it to be dealt with by the relevant domestic law(s) of the letter of credit contracts. This article considers the position under English law of the various parties in a letter of credit transaction.

Finding a buyer who is satisfied with your offer is only half the battle when entering the European market. You still need to agree on delivery terms, sign a contract, pack your goods and organise transport to Europe. Although this may look like technical and easy work, it comes with many of its own challenges. The tips listed below give you short but practical information on how to deal with those challenges and on how to become an efficient, trustworthy and successful exporter of processed fruit and vegetables.