US UCC Article 5’s Non-Variable Provisions
How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
Unreimbursed LC Issuer alleged sham transaction between Beneficiary and insolvent Applicant.
Recent court cases in Singapore have shone a spotlight on the serious perils of relying on a letter of indemnity (LOI) in lieu of presentation of shipping documents.
In UniCredit Bank A.G. v. Glencore Singapore Pte. Ltd. decided 21 October 2022, the High Court of Singapore dismissed
Research conducted by Fitch Ratings suggests that European banks appear to be increasing lending to commodity trading firms facing extraordinary liquidity needs due to fierce commodity price volatility.
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