Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Letter of credit compliance

Legal area

Court

28 Aug 2014

CHIYODA STEEL CO LTD v. BANK OF CHINA (HONG KONG) LTD

Citation

CHIYODA STEEL CO LTD v. BANK OF CHINA (HONG KONG) LTD
Court

Court of First Instance
Case number

HCA2024/2013

Although the packing list in fact contained the steel grade, it was not sufficiently apparent on the face of the documents that the notation 'KSD3504 SD400' denoted steel grade; a bank cannot be required to infer trade‑specific meaning absent clear facial indication and thus BOC raised a triable issue making summary judgment inappropriate; therefore the plaintiff's summons for summary judgment must be dismissed.
4 Aug 1981

YEE FUNG TEXTILE TRADING CO LTD v. CHIVAN INTERNATIONAL LTD

Citation

YEE FUNG TEXTILE TRADING CO LTD v. CHIVAN INTERNATIONAL LTD
Court

Court of First Instance
Case number

HCA3442/1980

The defendant breached the contract by failing to open a documentary credit in the terms and by the time required; the L/C actually opened was materially non-compliant (weight specification and an unexpected inspection-certificate requirement) and therefore did not satisfy the contractual obligation which was a condition precedent to the seller's further performance; inspection was not a condition precedent to opening the L/C; plaintiff entitled to damages for resale shortfall, with set-off for the HK$30,000 margin.