How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
Following an August 2022 change in its leadership, the Central Bank of Egypt has eased foreign currency restrictions by permitting lenders to use foreign currency account balances to obtain LCs.
To the extent this will make an appreciable difference in reducing the country’s sizable import backlog is unknown.
According to local reports, US dollars have dried up from the interbank market and traders have experienced considerable difficulty securing hard currency through LCs in order to import goods.
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
Following the discussion of ICC Opinions on 2 July 2024, updates on other ICC Banking Commission projects were given. ICC
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter
In an attempt to clarify aspects of UCP600 Article 10, the ICC Banking Commission has issued its 10th Technical Advisory
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