Recently Decided Cases
DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
After months of depleting US dollar reserves and denial of importers’ LCs amid the country’s dire foreign currency crisis, some Sri Lankan banks have managed to honour LCs.
SRI LANKA: After months of depleting US dollar reserves and denial of importers’ LCs amid the country’s dire foreign currency crisis, some Sri Lankan banks have managed to honour LCs.
The situation remains severe with foreign banks refusing to confirm LCs issued by Sri Lankan state banks and the country unable to open LCs to import fuel with oil suppliers also rejecting them.
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