US UCC Article 5’s Non-Variable Provisions
How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
Further to previous reporting (“Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes”, April 2022 DCW 6), the Commercial
Lloyd’s of London, AIG, Chubb, Swiss Re, and seven other insurers contend that they are not obligated to pay
Guarantors Caught Between Home Courts That Do Not Apply the Fraud Exception and Courts in the Counter-Guarantor's Country
Foreign leasing companies which have supplied Russia’s airline industry with more than half of its 980 aircraft fleet recovered “only a fraction” of the jets
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