With regard to how fraud may disturb a bank's obligation to honour under an independent undertaking, courts have used various qualifiers to describe the level necessary. In his expansive article, Dr. Alan Davidson explores the concept of "Letter of Credit Fraud" under law and in the courts.
URDG 758 and the UN Guarantee Convention both address independent guarantees and in many respects their content is similar, but differences exist in their areas of focus.
