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.
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
Canada's Court of King’s Bench of Alberta denied injunction application of LC Applicant who sought to enjoin Beneficiary demand on standby LC.
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
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
OCBC sues STI Orchard and Winson Oil over losses in a deal with Hin Leong Trading involving 780,000 barrels of gasoil, leading to fraud-related losses. The transaction aimed at selling 36,000 mt of gasoline to PT Pertamina after blending.
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