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.
Pierre J. Herszdorfer, who worked over 43 years in international banking, died on 7 November 2021 in Texas. Pierre started his banking career in the early 1960s in the auditing department at Irving Trust Co in New York and until joining Citibank. He then worked at various banks based in Connecticut, Illinois, Ohio, and Iowa, before moving on to an international trading company in Texas.
After 12 years at Riyad Bank (Houston, Texas) where he was operations manager, Pierre retired in 2004. The Institute of International Banking Law & Practice offers heartfelt sympathies to members of Pierre’s family on their loss.
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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