The applicable law for standby letters of credit in the Colombian legal system
The objective of this research is to determine the law applicable to standby letters of credit in Colombia. Such research seeks to resolve the controversy found when applying uniform international regulations to standby letters of credit in local transactions. In order to accomplish this objective,...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
2014
|
| Subjects: | |
| Online Access: | https://dialnet.unirioja.es/servlet/oaiart?codigo=7249128 |
| Source: | Revista Derecho Privado: (Universidad de los Andes), ISSN 1909-7794, Nº. 52, 2014, pags. 74-97 |
| Tags: |
Add Tag
No Tags: Be the first to tag this record
|
| id |
dialnet-ar-18-ART0001364673
|
|---|---|
| record_format |
dialnet
|
| institution |
Dialnet
|
| collection |
Dialnet AR
|
| source |
Revista Derecho Privado: (Universidad de los Andes), ISSN 1909-7794, Nº. 52, 2014, pags. 74-97
|
| language |
English
|
| topic |
applicable law
guarantees independent guarantees ISP98 standby letter of credit suretyship UCP 600 carta de crédito standby fianza garantías garantías independientes ISP98 ley aplicable UCP 600 carta de crédito standby fiança garantias garantias independentes ISP98 lei aplicável UCP 600 |
| spellingShingle |
applicable law
guarantees independent guarantees ISP98 standby letter of credit suretyship UCP 600 carta de crédito standby fianza garantías garantías independientes ISP98 ley aplicable UCP 600 carta de crédito standby fiança garantias garantias independentes ISP98 lei aplicável UCP 600 Caicedo Calle, Camilo Andrés The applicable law for standby letters of credit in the Colombian legal system |
| description |
The objective of this research is to determine the law applicable to standby letters of credit in Colombia. Such research seeks to resolve the controversy found when applying uniform international regulations to standby letters of credit in local transactions. In order to accomplish this objective, I begin this paper by first posing the research question, then defining the term "standby letter", and finally analyzing the applicable law. I conclude that the nature of standby letters of credit is not one of a suretyship, as the Financial Superintendence of Colombia argues, and therefore Colombian regulation of suretyships should not be applied to standby letters of credit because they contradict the very essence of this instrument. Rather, I argue that parties should incorporate uniform international regulations, which have been issued specifically to govern this instrument.
|
| format |
Article
|
| author |
Caicedo Calle, Camilo Andrés
|
| author_facet |
Caicedo Calle, Camilo Andrés
|
| author_sort |
Caicedo Calle, Camilo Andrés
|
| title |
The applicable law for standby letters of credit in the Colombian legal system
|
| title_short |
The applicable law for standby letters of credit in the Colombian legal system
|
| title_full |
The applicable law for standby letters of credit in the Colombian legal system
|
| title_fullStr |
The applicable law for standby letters of credit in the Colombian legal system
|
| title_full_unstemmed |
The applicable law for standby letters of credit in the Colombian legal system
|
| title_sort |
applicable law for standby letters of credit in the colombian legal system
|
| publishDate |
2014
|
| url |
https://dialnet.unirioja.es/servlet/oaiart?codigo=7249128
|
| _version_ |
1727401204396326912
|
| spelling |
dialnet-ar-18-ART00013646732022-03-13The applicable law for standby letters of credit in the Colombian legal systemCaicedo Calle, Camilo Andrésapplicable lawguaranteesindependent guaranteesISP98standby letter of creditsuretyshipUCP 600carta de crédito standbyfianzagarantíasgarantías independientesISP98ley aplicableUCP 600carta de crédito standbyfiançagarantiasgarantias independentesISP98lei aplicávelUCP 600The objective of this research is to determine the law applicable to standby letters of credit in Colombia. Such research seeks to resolve the controversy found when applying uniform international regulations to standby letters of credit in local transactions. In order to accomplish this objective, I begin this paper by first posing the research question, then defining the term "standby letter", and finally analyzing the applicable law. I conclude that the nature of standby letters of credit is not one of a suretyship, as the Financial Superintendence of Colombia argues, and therefore Colombian regulation of suretyships should not be applied to standby letters of credit because they contradict the very essence of this instrument. Rather, I argue that parties should incorporate uniform international regulations, which have been issued specifically to govern this instrument.O objetivo deste trabalho de pesquisa é determinar qual é a lei aplicável às cartas de crédito standby na Colômbia. Isto busca resolver a controvérsia em torno da aplicação de regulações internacionais uniformes a cartas de crédito standby em transações locais. Para cumprir com este objetivo, em primeiro lugar será formulada uma pergunta de pesquisa, em segundo lugar será definida a carta de crédito standby e por último será analisada a lei aplicável. Despois de seguir esta metodologia, será concluído que a natureza das cartas de crédito standby não é a de uma fiança, como a Superintendência Financeira argumenta. Isto significa que as regulações colombianas relacionadas com a fiança não devem ser aplicadas às cartas de crédito standby, porque se contradizem com a essência deste instrumento. Em vez disso, as regulações internacionais uniformes emitidas especificamente para regulamentar este instrumento deveriam incorporar-se a ele pelas partesEl objetivo de este trabajo de investigación es determinar cuál es la ley aplicable a las cartas de crédito standby en Colombia. Esto busca resolver la controversia en torno a la aplicación de regulaciones internacionales uniformes a cartas de crédito standby en transacciones locales. Para cumplir con este objetivo, en primer lugar se planteará una pregunta de investigación, en segundo lugar se definirá la carta de crédito standby y por último se analizará la ley aplicable. Después de seguir esta metodología, se concluirá que la naturaleza de las cartas de crédito standby no es la de una fianza, como la Superintendencia Financiera argumenta. Esto significa que las regulaciones colombianas relacionadas con la fianza no deben ser aplicadas a las cartas de crédito standby, porque se contradicen con la esencia de este instrumento. En vez de eso, las regulaciones internacionales uniformes emitidas específicamente para reglamentar este instrumento deberían incorporarse a él por las partes2014text (article)application/pdfhttps://dialnet.unirioja.es/servlet/oaiart?codigo=7249128(Revista) ISSN 1909-7794Revista Derecho Privado: (Universidad de los Andes), ISSN 1909-7794, Nº. 52, 2014, pags. 74-97engLICENCIA DE USO: Los documentos a texto completo incluidos en Dialnet son de acceso libre y propiedad de sus autores y/o editores. Por tanto, cualquier acto de reproducción, distribución, comunicación pública y/o transformación total o parcial requiere el consentimiento expreso y escrito de aquéllos. Cualquier enlace al texto completo de estos documentos deberá hacerse a través de la URL oficial de éstos en Dialnet. Más información: https://dialnet.unirioja.es/info/derechosOAI | INTELLECTUAL PROPERTY RIGHTS STATEMENT: Full text documents hosted by Dialnet are protected by copyright and/or related rights. This digital object is accessible without charge, but its use is subject to the licensing conditions set by its authors or editors. Unless expressly stated otherwise in the licensing conditions, you are free to linking, browsing, printing and making a copy for your own personal purposes. All other acts of reproduction and communication to the public are subject to the licensing conditions expressed by editors and authors and require consent from them. Any link to this document should be made using its official URL in Dialnet. More info: https://dialnet.unirioja.es/info/derechosOAI
|