The ICC Banking Commission returned to Dubai, UAE, for its 2025 Annual Meeting on 17 February. The one-day event was organized by ICC UAE and hosted by Dubai Chambers. In addition to those participating in-person, others attended virtually.
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?
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...
Local Guarantor petitioned for rehearing from the Supreme People’s Court of order for Counter Guarantor to terminate payment to Local Guarantor for having committed guarantee fraud and not acting in “good faith”.
Within the recent past, trade finance banks have suffered billions in losses due to fraud. This has obliged many banks to reconsider their role in financing trade flows whilst others have simply abandoned the business. Citing Glencore, Navig8 Armetrine, and Hin Leong
