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 next ICC Opinions session will take place on 18 April 2023 in a purely virtual setting, followed by a Plenary Meeting on 19 April. The Banking Commission’s quarterly sessions to discuss ICC Opinions will then continue on 11 July (video conference) and in conjunction with its October 2023 Technical Meeting (date to be confirmed).
In 2022, the ICC Banking Commission issued five Technical Advisory Briefings (TABs) which are freely available. Its next TAB, Summary of ICC Guidance Papers, is in draft. Other topics that may be taken up in future TABs could include title of invoice, presentation of scanned attachments via email, issuing bank charges, and wet-ink/electronic/PDF signatures.
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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