In the latest installment of this annual survey article series, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2024.
Paul Roder examines why the Court decision in Starr Indemnity is troubling both in its interpretation of the auto-extension clause and the practical effect it may have on the industry.
Like certain other terms used in the LC and guarantee field, “assignable” can mean different things to different parties. Glenn Ransier reviews what the practice rules say and the importance of clarity.
In the latest installment of his article series on originality of paper and electronic documents, Pavel Andrle addresses practical use of the current ICC rules and matters he believes need clarified to better facilitate use of electronic records in trade finance.
Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
The September 2025 bankruptcy filing of First Brands has thrust supply chain finance into the industry spotlight again. Supply chain specialist Tat Yeen Yap explains how certain forms of SCF techniques work and addresses whether they can give rise to opaque accounting and hidden financial debt.
Practice rules for independent undertakings do not address "pay and walk" clauses that are being used in some regions and shunned by others. Here, David Williams puts forth an alternative option for consideration.
The auto-extension clause used in a UCP 600 standby that gave rise to ICC Opinion TA954 illustrates the serious concerns that can emerge when ambiguous wording is inserted in a credit. Li Huang identifies and examines issues to consider.
