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.
Francisco Rodriguez, a talented and dedicated trade finance specialist, passed away on 17 December 2024. He was 70 years of
The following scenario was widely discussed during a recent meeting among bankers. The relevant details: Outgoing collection documents were sent
In a bankers’ discussion this month, conversation focused heavily on standby LCs, particularly the handling of amendments. One of questions
The question discussed centered on whether document examiners would pickup Short Drawing as a discrepancy since the LC does not permit tolerance in the amount and the amount drawn is less than the total value of the LC.
Issuing bank received a timely demand that complied with the standby. However, on the beneficiary’s cover letter, the payment instruction request to remit payment to their account with a different bank than what is stated on the certification.
-- needs image of Marine Certificate of Insurance, p. 46 of May 2023 DCW
Bankers share opinions on what it means when a non-extension notice is sent more than 60 days prior to expiry, but then LC extended 6 months anyway.
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