UCP 600: Uniform Customs and Practice for Documentary Credits - The primary international rules governing the operation of Letters of Credit, published by the International Chamber of Commerce
ISBP 745: International Standard Banking Practice - International guidelines that complement UCP 600 with detailed operational practices for documentary credits
ICC Rules: International Chamber of Commerce Rules - General framework of international trade rules and standards applicable to Letters of Credit
Bills of Exchange Act 1882: UK legislation governing negotiable instruments, including certain aspects of Letters of Credit and their treatment under English law
Law of Property (Miscellaneous Provisions) Act 1989: UK legislation governing formal requirements for certain types of contracts and property transactions
Unfair Contract Terms Act 1977: UK legislation regulating unfair terms in contracts, including limitations on exclusion clauses
Financial Services and Markets Act 2000: Primary UK legislation for regulation of financial services and markets, including banking activities related to Letters of Credit
Doctrine of Strict Compliance: Common law principle requiring exact compliance with the terms of the Letter of Credit for payment to be made
Autonomy Principle: Common law principle establishing that Letters of Credit are independent from the underlying commercial contract
Fraud Exception: Common law principle allowing banks to refuse payment under a Letter of Credit in cases of proven fraud
FCA Regulations: Financial Conduct Authority regulations governing financial institutions and their practices in the UK
PRA Requirements: Prudential Regulation Authority requirements for banks and financial institutions handling Letters of Credit
UK Money Laundering Regulations 2017: Regulations requiring financial institutions to implement measures to prevent money laundering and terrorist financing
UN Convention on Independent Guarantees: International convention establishing uniform rules for independent guarantees and stand-by Letters of Credit
Consumer Rights Act 2015: UK legislation protecting consumer rights, applicable if the Letter of Credit involves consumer transactions
Consumer Credit Act 1974: UK legislation regulating consumer credit, potentially applicable if the Letter of Credit involves consumer credit arrangements
