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.
Most specialists in the trade finance industry are well aware of multiple court cases in recent years – many from Singapore – about the perils of letters of indemnity (LOIs) being used in lieu of original bills of lading. In a recent discussion, bankers were asked whether they would issue a commercial LC on behalf of a high-valued client which allowed for the presentation of a charter party bill of lading (CPBL), delivery order, or an LOI as a replacement for the full set of original bill of lading. What are the risks associated with issuing such an LC and how might those risks be mitigated?
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.
URDG 758 Article 15(c) makes clear that the requirement stated in Article 15(a) always applies unless expressly excluded in the guarantee, but does ISDGP help or harm in explaining this provision?
Gain full access to analysis, cases, eBooks and more with a DCW Free Trial
