Banking Act (Chapter 19): Primary legislation governing banking institutions and their operations in Singapore, including the issuance of letters of credit
Bills of Exchange Act (Chapter 23): Legislative framework governing negotiable instruments and related banking documents in Singapore
Singapore Contract Law: Common law principles governing contract formation, validity, and enforcement in Singapore
UCP 600: Uniform Customs and Practice for Documentary Credits - internationally recognized rules for letter of credit operations
MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore governing banking operations
MAS Notice 648: Regulatory notice on Minimum Liquid Assets requirements for banks operating in Singapore
MAS Notice 758: Regulatory notice on Minimum Cash Balance requirements for banks in Singapore
MAS Notice 632: Regulatory guidelines on Banking Arrangements with Related Parties
Electronic Transactions Act: Legislation governing electronic transactions and digital signatures in Singapore, relevant for electronic LC processing
AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations applicable to letter of credit transactions
Companies Act (Chapter 50): Legislative framework governing corporate entities and their business operations in Singapore
Doctrine of Strict Compliance: Legal principle requiring exact compliance with letter of credit terms and conditions
Autonomy Principle: Legal principle establishing that letters of credit are independent from the underlying commercial transaction
Fraud Exception: Legal principle allowing banks to refuse payment under a letter of credit in cases of proven fraud
Independence Principle: Legal principle establishing that the letter of credit is separate from the underlying sales or other contract
