The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
Beneficiary presented late shipment documents under an LC. The issuing bank deducted penalties without a refusal notice, raising debate on clause 47A-7, UCP 600, and consent.
This in-depth discussion between two leading figures in the study of LC law & practice is based on an online lecture on 25 February 2024. In their remarks, Saibo JIN and SOH Chee Seng talk about the "thinking" and different methods of analysis adopted by international banking experts.
