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.
The NAIC proposed update to their guidelines for removal of an FI on the QUSFI list due to primary regulator announced or taken actions.
Court of Appeal allows payment in Euros despite contract in US Dollars. Implications for LCs & guarantees? RTI vs. MUR case questions currency and force majeure clauses' role in trade finance.
ICC republished four guidance papers on recommended principles and usages around the UCP600 rules in February 2023. The collection of
In a recent group discussion, LC professionals took up the matter of guarantee text referencing a consumer price index (CPI)
In Wellington Cantonment Board v. Gharpure Engineering & Constructions, the Madras High Court (India) set aside a District Judge order
At year-end 2022, the Central Bank of Egypt (CBE) announced cancellation of its mandate requiring use of letters of credit
A collaborative initiative underway among the International Chamber of Commerce United Kingdom (ICC-UK), the Centre for Digital Trade and Innovation
The Windsor Township v. Tompkins Financial Corp. case emphasizes the significance of original letters of credit but questions their necessity in modern electronic transactions.
Developer Greth Development secured a letter of credit from Tompkins Financial to ensure completion of a townhouse project for Windsor Township. After project delays and a breach, Windsor sued the developer and demanded payment from Tompkins, who refused.
Turkey, by way of Presidential Decree No. 6785, has declared a three-month state of emergency in ten provinces impacted by
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