15 Mar 1985
UNHARAM RUPCHAND SONS (HK) LTD t/a FAR EAST CONFIRMERS v. MERCANTILE BANK LTD
- Citation
- UNHARAM RUPCHAND SONS (HK) LTD t/a FAR EAST CONFIRMERS v. MERCANTILE BANK LTD
- Court
- Court of First Instance
- Case number
- HCCL24/1984
The credits were construed as straight credits and therefore conferred no authority on the Thai negotiating banks to claim reimbursement from the issuing bank; Mercantile Bank failed to prove the Thai banks in fact negotiated in good faith and/or for value; material non‑compliance existed (combined transport bills inconsistent with a prohibition on transhipment, failure to tender a full set of invoices and failure to despatch as required) so Mercantile Bank was not entitled to reimbursement and therefore wrongly debited Far East Confirmers and must make restitution.