Strategic Studies of Jurisprudence and Law

Strategic Studies of Jurisprudence and Law

A Field Study of the Effect of the Principle of Independence of Documentary Credit on the Procedure of Proceedings

Document Type : research

Authors
1 PhD Student in Private Law, Department of Law, Faculty of Humanities, Qom Branch, Islamic Azad University, Qom, Iran.
2 Assistant Professor and Faculty of Islamic Humanities Higher Education Complex, Department of Law, Al-Mustafa International Research Institute, Qom, Iran
3 Assistant Professor, Department of Law, Faculty of Law and Political Science, South Tehran Branch, Islamic Azad University, Tehran, Iran
10.22034/ejs.2024.447820.1738
Abstract
Background and Aims: Today, trade and commercial relations have penetrated the political and geographical borders of countries and have become a global Muslim issue, in such a way that there are few countries that do not have international commercial relations with other countries. Therefore, merchan. The purpose of this article is to investigate the effect of the principle of independence of the letter of credit on the way of proceedings and the fulfillment of the obligations of the parties.
Materials and Methods: This article is descriptive-analytical. Also, this research, with a practical purpose and in the form of documentary and library studies, has examined domestic and international documents and laws regarding the principle of independence of documentary credit.
Ethical Considerations: In this article, the originality of the texts, honesty and trustworthiness are respected.
Findings: The investigations show that, despite the recognition of the principle of independence of the documentary credit on the proceedings, sometimes the courts, as necessary, take precautionary measures such as entering a third party, attracting a third party, securing the demand and issuing a temporary order, which causes Limiting the scope of the principle of independence of the letter of credit.
Conclusion: The results showed that there are no legal provisions that explicitly indicate precautionary measures, and it can be assumed indirectly by referring to the provisions of the Civil Procedure Law that they are accepted in Iranian law.
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