Conflict of Laws of the Documentary Credit Contract

In view of the importance of the documentary credit contract in facilitating commercial and banking operations and in view of the responsibility of the parties to the documentary credit contract towards the obligations arising from each of them, the study is to know the consequences of the contractual relations between the parties to the documentary credit and the obligations that arise from each of them and what are the effects of those obligations in the event that any party violates any of the obligations imposed by the documentary credit contract on it. Therefore, we find that there are many questions that arise about the responsibility of each party to the documentary credit in the event that it violates any of the obligations of the documentary credit contract and the subject of the contractual relationship between the parties to the documentary credit also raises the consequences that may result in the event that any of the parties violates those obligations. Conflict of laws occurs when there is a special international relationship with a foreign element, and here the door is open to more than one law, and each country claims its right to rule in the dispute, so national rules of attribution are resorted to to resolve the problem of conflict of laws, and here the function of the rules of attribution is to indicate the law applicable to the dispute in which there is a foreign element, and the rules of attribution differ in private international law from domestic law, There are several characteristics of the attribution rule, including: status, i.e.: that the national legislator is the one who sets it, as well as it is indicative that guides to the applicable law, and it is dual, i.e.: it is its duty to guide to the best law, to be applicable, and the legal relationship with a foreign element is governed by all these important characteristics that are found in the rules of attribution.