20 Apr 1998
RUDOLPH ROBINSON STEEL CO v. NISSHO IWAI HONG KONG CORPORATION LTD AND ANOTHER
- Citation
- RUDOLPH ROBINSON STEEL CO v. NISSHO IWAI HONG KONG CORPORATION LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA4232/1996
Sanwa Bank was not liable because it had issued an irrevocable notice of refusal under UCP Art 14d(ii) and the subsequent agreement to present a non‑credit future draft survey report 'on a collection basis' did not amend or revive the letter of credit; by contrast Nissho Iwai, having made the offer through its bank and whose offer was accepted by the plaintiff, was bound to pay the balance when the report was presented.