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.
OCBC sues STI Orchard and Winson Oil over losses in a deal with Hin Leong Trading involving 780,000 barrels of gasoil, leading to fraud-related losses. The transaction aimed at selling 36,000 mt of gasoline to PT Pertamina after blending.
Starting March 1, 2022, Egypt's Central Bank now mandates the use of documentary credits for import operations, discontinuing documentary collections, except for certain exceptions.
A 1945 book displays a number of contemporary equivalents to current day trade finance banking practice.
The Central Bank of Egypt announced in mid-February 2022 that Egyptian banks must only accept letters of credit for the purchase of imports.
Sign up to receive occasional DCW emails highlighting content