Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
Citing inflation as a major challenge in the coming months, Bangladesh’s Metropolitan Chamber of Commerce and Industry (MCCI) recommended controlling the import of unnecessary goods and the need to exercise caution when opening letters of credit in its “Review of economic situation in Bangladesh: January-March 2022.”
Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
On 15 Feb 2023, DCSA members pledged to issue 50% of bills of lading (B/Ls) electronically by 2028 and 100% by 2030, aiming to cut costs and boost global trade.
