UCP 600: Uniform Customs and Practice for Documentary Credits - The primary international rules governing the operation of letters of credit

ISP98: International Standby Practices - Rules specifically governing standby letters of credit

URR 725: Uniform Rules for Bank-to-Bank Reimbursements - Rules governing reimbursement procedures between banks in letter of credit transactions

Bills of Exchange Act 1882: UK legislation governing negotiable instruments and certain aspects of documentary credits

Sale of Goods Act 1979: Primary UK legislation governing sale of goods contracts, relevant as letters of credit often involve underlying sale transactions

Contracts (Rights of Third Parties) Act 1999: UK legislation governing third party rights in contracts, relevant for beneficiaries of letters of credit

Doctrine of Strict Compliance: Common law principle requiring exact compliance with letter of credit terms and conditions

Autonomy Principle: Common law principle establishing the independence of letter of credit obligations from underlying transactions

Fraud Exception: Common law principle allowing banks to refuse payment in cases of proven fraud

Financial Services and Markets Act 2000: UK legislation providing regulatory framework for financial services including letter of credit operations

Financial Services Act 2012: UK legislation amending financial services regulation and establishing new regulatory bodies

Money Laundering Regulations 2017: UK regulations implementing anti-money laundering requirements for financial transactions

INCOTERMS: International commercial terms defining responsibilities of buyers and sellers in international transactions

UK Banking Act 2009: UK legislation governing banking operations and regulatory framework

Basel III Requirements: International banking standards affecting capital adequacy requirements for banks issuing letters of credit