Article
The Beneficiary’s Bank and Beneficiary Described by Name and Number: Liability Chain and Liability Standard in Wire Transfers (Part 1)
TSAR (Journal of South African Law). 2004, Volume 1 (2004), p. 1-19.
Document Type
Article
Publication Date
1-1-2004
Keywords
- Electronic funds transfers,
- Tort liability of banks
Disciplines
Abstract
This article deals with issues evolving around the identification of the beneficiary in the last payment order in the credit transfer received by the last bank in the transfer chain ("beneficiary's bank"), the duties of the beneficiary's bank in the case of an ambiguous description of the beneficiary in the payment order, and the liability of the beneficiary's bank in case it broke such duties.
Creative Commons License
Creative Commons Attribution-Noncommercial-No Derivative Works 4.0
Citation Information
Geva, Benjamin. "The Beneficiary’s Bank and Beneficiary Described by Name and Number: Liability Chain and Liability Standard in Wire Transfers (Part 1)." TSAR (Journal of South African Law) 2004.1 (2004): 1-19.