This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
The ICC Banking Commission has announced its intention to compile an eUCP Directory in order to bring attention to banks’ capacities to handle eUCP letters of credit.
Bankers share opinions on what it means when a non-extension notice is sent more than 60 days prior to expiry, but then LC extended 6 months anyway.
This is the first installment of FinCEN's guidance materials to assist the public in understanding beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA).
Following its decision to initiate a six-month review of all 140 ICC Opinions issued since formulation of ISBP745 in 2013
Further to previous reporting (“Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes”, April 2022 DCW 6), the Commercial
For the 31st consecutive year, the Institute of International Banking Law & Practice conducted its Americas Annual LC Survey conference, 8-9 June 2023.
Court of Appeal allows payment in Euros despite contract in US Dollars. Implications for LCs & guarantees? RTI vs. MUR case questions currency and force majeure clauses' role in trade finance.
ICC republished four guidance papers on recommended principles and usages around the UCP600 rules in February 2023. The collection of
In a recent group discussion, LC professionals took up the matter of guarantee text referencing a consumer price index (CPI)
In Wellington Cantonment Board v. Gharpure Engineering & Constructions, the Madras High Court (India) set aside a District Judge order
At year-end 2022, the Central Bank of Egypt (CBE) announced cancellation of its mandate requiring use of letters of credit
A collaborative initiative underway among the International Chamber of Commerce United Kingdom (ICC-UK), the Centre for Digital Trade and Innovation
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