LAW7025 - International trade finance: law and practice

Leader: Dr Emmanuel Laryea

Offered

Not offered in 2007

Synopsis

Role of banks & financial instruments in financing trade transactions & international payments. Bills of exchange & promissory notes, documents of title, documentary collections & commercial letters of credit in trade finance. Security for trade finance - Standby letters of credit, independent guarantees & performance bonds in financing construction and other contracts. Law of payments. The impact of e-commerce, and electronic letters of credit. Domestic & international funds transfer systems & rules & rights & liabilities of users & providers. Relevant international agreements & model rules applicable to these transactions. Conflicts of law issues that arise in international transactions.

Objectives

On completion of this subject, students should

1. be able to advise clients on the Australian law and practice and the international agreements and model rules governing
   1. the use of negotiable instruments, documentary collections and commercial letters of credit in financing international trade;
   2. standby letters of credit, independent guarantees and performance bonds and
   3. domestic and international electronic funds transfers and apply these legal rules of solve problems arising in these transactions;
2. be able to identify which jurisdiction's law governs the various aspects of documentary collections, letters of credit and international funds transfer transcations;
3. have a familiarity with
   1. the conflicts of law issues that arise in international banking transactions;
   2. the principal sources of law governing these transactions under English, Australian and United States law (with some comparisons with civil law) and
   3. the differences between the applicable rules in these legal systems on selected important issues; and
4. have developed legal research and writing skills and skills of oral presentation in a seminar context.

Assessment

Research paper (3,750 words): 50%
Take-home exam (3,750 words): 50%

Contact hours

One two hour seminar per week