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.
The High Court of Chhattisgarh, Bilaspur, has dismissed an arbitration appeal against a commercial court order, rejecting an application to enjoin payment of a performance bank guarantee.
The High Court of Chhattisgarh, Bilaspur, has dismissed an arbitration appeal against a commercial court order, rejecting an application to enjoin payment of a performance bank guarantee. In ARSS – SIPS (JV) v. Union of India, the High Court determined that the commercial court “rightly held that the appellants have failed to plead and establish the grounds of ‘fraud’, ‘special equity’ and ‘irretrievable injustice’ to the appellants for seeking interim injunction against the enforcement of bank guarantee.”
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
In an attempt to clarify aspects of UCP600 Article 10, the ICC Banking Commission has issued its 10th Technical Advisory
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter
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