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.
According Reuters reporting, a Sri Lankan government official has affirmed that the country has purchased two cargoes of 60,000 tonnes of coal each from the Singapore unit of Russian coal trader SUEK AG and will pay in US dollars (about USD 17 million).
The coal shipments will be the first from Russia to Sri Lanka since Russia’s invasion of Ukraine on 24 Feb.
“A letter of credit (LC) backed by the central bank has been opened. At the maturity, payment will be made by the treasury,” the official said.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
This Executive Summary provides an overview of topics discussed and debated by leading professionals at the conference.
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
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