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.
State Bank of Pakistan (SBP) is requiring all banks to seek prior approval before financing imports.
A circular letter issued by State Bank of Pakistan (SBP) on 20 May 2022 requires all banks under its authority to seek prior permission from SBP’s Foreign Exchange Operations Department before initiating transactions for import of certain goods through issuance/amendment of LCs, open account, collections, and other payment arrangements.
A list of specified import goods accompanies the circular and includes items such as motor cars, power generating machinery, and other machinery.
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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