DCW maintains a list of recently-decided court cases involving commercial letters of credit, demand guarantees, and other trade finance instruments.
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In a recent group discussion, LC professionals took up the matter of guarantee text referencing a consumer price index (CPI)
In McNeil & NRM Inc. v. SA Bank Audi France, the court ruled on a dispute over an advance payment guarantee. The case highlights the importance of precise guarantee wording and adherence to standard practices in international transactions.
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