DCW maintains a list of recently-decided court cases involving commercial letters of credit, demand guarantees, and other trade finance instruments.
We’re excited to announce an exclusive new benefit for DCW subscribers—select IIBLP eBooks are now included as part
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How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
ICC TAB 9 points out that there is a risk of documents being presented to more than one bank at the same time, especially under an LC that is freely negotiable, but it stops short of making any recommendations for avoiding this risk. Here’s my suggestion.
Despite established rules like the eUCP and eURC, the practical implementation of electronic presentations lags. Except perhaps via email and Fax...
Let's hear from some of the LC community as they share memories and stories of their time working
The ICC Banking Commission's TAB#4 sheds light on UCP600 Article 35, assuaging concerns about lost documents. The clarification emphasizes the LC issuer's responsibility to honor compliant drawings, even if documents are lost in transit between nominated banks, providing relief to practitioners.
I am somewhat surprised that it seems that most banks are resisting issuing standby letters of credit that allow beneficiaries to present documents as scans attached to an email.
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