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.
Coal and stone imports from India coming into Bangladesh’s Sonahat Land Port and Chilmari River Port are being misdeclared on a consistent basis with customs officials and others tacitly facilitating the underreporting imports, according to Dhaka Tribune.
In an investigative report, Ariful Islam Rigan of Dhaka Tribune cited a recent raid conducted by the Anti-Corruption Commission (ACC) at Sonahat Land Port revealed evidence confirming allegations and implicating revenue officials, customs & freight (C&F) agents, and importers in the process.
Rigan also said “significant irregularities” have been seen in coal imports at Chilmari River Port, suggesting fraudulent activities with potential ties to money laundering.
In one instance, a revenue official admitted that a coal-laden ship from India initially declared as originating from a third country bypassed regulations through use of a new letter of credit.
India’s Central Bureau of Investigation (CBI) is looking into alleged collusion in a case initiated in 2017 relating to
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
DCW delivers quarterly LC issuance statistics from the top 600 US-based banks. Here’s the latest data for 4Q 2024.
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