This month, we're spotlighting the challenges and hard-earned lessons emerging from LC disputes and sanctions enforcement crackdowns. Carter
DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
Continuing an annual survey written by top legal experts each year since 1992, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2023.
Punjab Health Minister Dr. Javed Akram directs Bank of Punjab to issue Letters of Credit (LCs) for crucial pharmaceutical imports amidst concerns over foreign currency constraints. Details on safeguards and bank selection remain unclear. Stay updated on this development.
The next ICC Opinions session will take place on 18 April 2023 in a purely virtual setting, followed by a
No country has greater reliance on letters of credit than Bangladesh so it is reasonable to surmise that reports in
Effective 1 January 2023, Professor Michelle Kelly-Louw has been appointed Head of the Department of Commercial Law for a three-year term at the University of Cape Town (UCT)
In an effort to boost protection of the country’s dwindling foreign reserves, the government has directed all importers to
The Reserve Bank of India (central bank) has assessed an INR 1.25 crore (USD 153,000) penalty against Zoroastrian
In Wildman v. Deutsche Bank, the US District Court for the Eastern District of New York dismissed an action brought
According to published reports, the EU appears to be on a path for abandoning a planned tenet of Basel reforms
Inflationary pressures and resulting interest rate hikes are forcing captive insurers that have relied on letters of credit as a
A chronic concern for banks is when intended LC beneficiaries – often government agencies, municipalities, insurance companies, and other so-called power
Lloyd’s of London, AIG, Chubb, Swiss Re, and seven other insurers contend that they are not obligated to pay
Three Draft Opinions were presented for discussion at the ICC Banking Commission’s latest quarterly meeting on 31 January 2023.
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