Drafts
Mexican Customs: Another Good Reason to Avoid Use of Drafts
When one LC specialist encountered delay after sending drafts and shipping documents to Mexico, the resounding suggestion from industry peers
Revising UCP 600: Weighing the Issues, Merits, and Challenges
In the fifth instalment of his DCW article series on major contemporary issues surrounding documentary credit practice, ICC Banking Commission Senior Technical Advisor Dave Meynell offers his thoughts on the highly-charged question: Is it time for UCP to be revised?
November 2024 ICC Banking Commission Meeting: Executive Summary
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.
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.
2024 Americas LC Law Summit: Executive Summary
For the 25th consecutive year, the Institute of International Banking Law & Practice conducted its one-day Letter of Credit Law Summit. This Executive Summary provides an overview of topics discussed and debated at the conference hosted by Hogan Lovells in New York and conducted as a hybrid event.
Should "Negotiation" Continue to be a Form of Availability within UCP?
In the first of his series of DCW articles on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell examines the concept of negotiation.
Two Draft Opinions to be Discussed at November 2024 ICC Banking Commission Session
Two Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on
Generation Next Fashions Ltd. v. JPMorgan Chase Bank, N.A. [2023]
Seller sued Collecting Bank for breach of URC 522
ICC Re-Releases Guidance Papers on Aspects of UCP Use
ICC republished four guidance papers on recommended principles and usages around the UCP600 rules in February 2023. The collection of
UCP600 Revision: A Tune-Up Opportunity for this Old Vehicle Called the “Letter of Credit”
Letters of credit have been around for decades, probably since the 19th Century or earlier. We are now in the
