DCW maintains a list of recently-decided court cases involving commercial letters of credit, demand guarantees, and other trade finance instruments.
We’re excited to announce an exclusive new benefit for DCW subscribers—select IIBLP eBooks are now included as part
Important login update We’ve heard from a few users about login issues, so here’s a quick guide to
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter of credit in favor of LLC Kirishinefteorgsintez, a Russian company. The LC was obtained to support design and manufacturing by Lummus of specialized technology for use by the beneficiary in its oil and gas business. AO UniCredit Bank, based in Russia, added its confirmation.
Underlying contract performance was paused following Russia’s invasion of Ukraine. After LLC Kirishinefteorgsintez demanded payment from AO UniCredit Bank, the confirming bank honored. When AO UniCredit Bank turned to the issuer for reimbursement, Credit Agricole dishonored, “in part on the ground that providing the reimbursement would violate the international sanctions regime against Russia”.
We’re pleased to share the newest edition of DCW’s premium monthly content. This month’s highlights include: * Two
In addition to treatment of two ICC Draft Opinions, highlighting the first day of the next ICC Banking Commission Meeting
Receive updates on the latest DCW releases
