Jenner & Block

Klein Provides CBA the Latest Developments in Letter of Credit Law

Jenner & Block Partner Carter H. Klein recently gave a lecture to the Chicago Bar Association's Commercial & Financials Transactions Committee on the latest developments in Letter of Credit law, including the current volume of letter of credit activity around the country and the various uses of standby letters of credit.

Mr. Klein, Chair of the American Bar Association’s Letter of Credit Subcommittee, also reviewed the status of the on-going revisions to the Uniform Customs & Practice for Documentary Credits (ICC Publication 500), the international law which governs letters of credit, and discussed the recovery of attorneys fees in letter of credit cases under UCC Section 5-111(e).

In addition, Mr. Klein analyzed several current letter of cases of interest, including those dealing with the rights of landlords, injunctions against honor and presentment letters of credit.

Mr. Klein recently published an article in Documentary Credit World on Section 5-111(e) of the UCC, which was distributed at the event as part of his presentation materials.  To view the article, please click here.

Please click here to view Mr. Klein’s presentation materials.