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.
A man accused of willfully causing EUR 2.37 million in financial loss to Ghana by having letters of credit established without authorization for vehicles purporting to be ambulances has lost his challenge before the Court of Appeal (Accra) that charges against him were defective.
Lawyers for the accused, Dr. Cassiel Ato Forson, contended that the High Court judge erred in holding that the particulars of offences contained sufficient information on the specific acts engaged in by the accused that manifest “without due cause and authorization” as contained in the charge sheet.
Sanctions clauses that are wisely or imprudently constructed continue to be inserted into trade finance instruments and may heavily impact the legal rights and transactional obligations of involved parties.
In a high profile case involving standby letters of credit issued in connection with aircraft leases to Russian airlines and
The onset of the global pandemic in March 2020 necessitated immediate and sometimes drastic changes in how banks and other
United Nations Commission on International Trade Law (UNCITRAL) Working Group VI (Negotiable Cargo Documents) held its 44th Session at the
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