Beneficiary
Risky and Uncertain Situations in Negotiation of LCs
The LC concept of negotiation has led to considerable misunderstanding and confusion in practice. In his article, Abdurrahman Özalp attempts to wade through areas of uncertainty and cast light on difficulties that confirming banks and beneficiaries could encounter.
Confirmation Concerns and Considerations Arising from Strange LC Requirements
When issuing banks insert complex reimbursement terms and self-serving conditions into their credits, it distorts the purpose of the product, causes problems for confirming banks, and drives exporters away from using LCs.
Dave Meynell Reacts to June 2024 DCW Articles
Various articles from the June 2024 edition of DCW caught the attention of ICC Banking Commission Senior Technical Advisor Dave Meynell who offers the following comments.
UCP600 Article 32: A Hidden Trap
UCP Revision – Hot Topics from Practitioners! DCW is pleased to present the next instalment of its discussion series where experienced
Bad Standby LC Wording from Beneficiaries: Push Back or Get Pulled In
A chronic concern for banks is when intended LC beneficiaries – often government agencies, municipalities, insurance companies, and other so-called power
