Journal Article: Should There Be a Negligence Exception to the Autonomy Principle for Letters of Credit? by Liwen Leung

CML congratulates Liwen Leung on the publication of his article, “Should There Be a Negligence Exception to the Autonomy Principle for Letters of Credit?“, in Lloyd’s Maritime and Commercial Law Quarterly.

Fraud is the only widely accepted exception to the autonomy principle applicable to letters of credit. However, a recent decision of the Singapore High Court, Bank of China v BP Singapore, appears to support the possibility of a further exception: the negligence exception. Other lawsuits pending before the Singaporean courts also implicitly refer to (and plead) such a possibility. This paper argues that the negligence exception should be rejected.

Read the article in LMCLQ here. (Subscription required).

The working paper for this article can be found here.