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.
Issuer ICBC applied to stay action alleging forum non conveniens.
To support its purchase of 61,066 MT of green petroleum coke, Guizhou New Era Union Import and Export Co. Ltd. (Buyer/Applicant) applied for and caused Industrial Commercial Bank of China, Ltd., Guizhou branch, (Issuer) to issue a CNY 63,204,011.73 UCP600 letter of credit in favour of VLSA Enterprise Ltd. (Seller/Beneficiary). CTBC Bank Co., Ltd. (Negotiating Bank), was nominated by Issuer; late May 2023, Seller/Beneficiary tendered Negotiating Bank with an application and complying bills of exchange requesting that they be discounted (90-days sight). The next day, Negotiating Bank forwarded the documents to Issuer. Seller/Beneficiary later presented a revised commercial invoice to Negotiating Bank which was passed on to Issuer.
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.
Following his writing in the January 2025 edition of DCW, Robert Parson continues his look at high profile cases by revisiting decisions surfacing from Singapore commodity defaults of recent years.
In the fourth instalment of his DCW article series on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell reinforces the case for simple documentary credits and offers tips on how to construct them.
There's more (or less) to signatures than how they are labelled. In his article, Dr. Alan Davidson sheds light on variants of electronic signatures.
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