US UCC Article 5’s Non-Variable Provisions
How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
Eastern Bank Ltd. has announced its partnership with Visa Worldwide Pte. Ltd. to offer trustee services towards domestic settlement obligations which will provide Visa clients the option to ensure security in the form of Bangladeshi Taka (BDT) cash collateral against domestic transactions.
Previously, such collateral was provided by USD-denominated standby LC issued by international banks in favor of Visa.
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