DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
This month, we sort through some of the big questions shaping LC practice today. Is it time to rewrite UCP
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
The appeal in Zenrock. In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
In a move aimed at easing pressures on foreign exchange reserves, Pakistan is designing a bonded bulk storage policy for
On 3 August 2022, the European Union issued notice to operators in which it granted “specific and temporary derogations and
Prime Minister Shehbaz Sharif has promised that the Pakistani government will intervene on behalf of oil refineries facing potential shutdown
![Crédit Agricole Corp. & Inv. Bank, Singapore Branch v. PPT Energy Trading Co. [2022]](/content/images/size/w30/wordpress/2022/03/Credit-agricole-v-PPT-energy-DCW.jpeg)
In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
According to multiple trading sources cited by Reuters, at least three major buyers of Russian oil have been unable to open letters of credit from unnamed “Western banks” to cover purchases on 24 February 2022.
Twenty-five forgery-related charges were levied last year against Lim Oon Kuin, founder of collapsed oil trading firm Hin Leong Trading.
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