Bills of Exchange Act 1882: Though Letters of Credit are not bills of exchange, this Act provides relevant foundational principles for negotiable instruments in English law
Sale of Goods Act 1979: Governs the underlying commercial transactions that Letters of Credit typically secure
Unfair Contract Terms Act 1977: Controls the extent to which liability for breach of contract can be excluded in contractual relationships
UCP 600: Uniform Customs and Practice for Documentary Credits - the primary international rules governing Letters of Credit operations
ISBP 745: International Standard Banking Practice - provides detailed guidance on document checking for Letter of Credit operations
Financial Services and Markets Act 2000: Primary legislation for financial services regulation in the UK, governing banking activities including Letter of Credit issuance
Financial Services and Markets Act 2000 (Regulated Activities) Order 2001: Specifies which activities require authorization from UK financial regulators
Money Laundering Regulations 2017: Requirements for prevention of money laundering and terrorist financing in financial transactions including Letters of Credit
Proceeds of Crime Act 2002: Legislative framework for dealing with criminal proceeds, affecting due diligence requirements in banking transactions
UK Sanctions and Anti-Money Laundering Act 2018: Framework for implementing international sanctions and preventing financial crimes in UK banking operations
Autonomous Nature Principle: Key case law principle establishing that Letters of Credit are independent from underlying commercial contracts
Strict Compliance Doctrine: Case law principle requiring exact compliance with Letter of Credit terms, with no room for discretionary interpretation
