The LC concept of negotiation has led to considerable misunderstanding and confusion in practice. In his article, Abdurrahman Özalp attempts to wade through areas of uncertainty and cast light on difficulties that confirming banks and beneficiaries could encounter.
Pakistan has embarked on an ambitious multi-year plan to transform its financial system into a Shariah-compliant framework by 2028. Two trade finance specialists explain what this entails and the inherent challenges and opportunities it presents.
In the first of his series of DCW articles on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell examines the concept of negotiation.
When issuing banks insert complex reimbursement terms and self-serving conditions into their credits, it distorts the purpose of the product, causes problems for confirming banks, and drives exporters away from using LCs.
Argentine lawyer Jorge Riva highlights how ICC rules are already providing an adequate environment for accommodating electronic means and how intense work continues for expanded use of electronic credits.
Houthi attacks in the Red Sea have led to major disruptions in global trade routes. With increased criminal activity and reduced visibility, banks are under increased pressure to meet sanctions and counter terrorism requirements.
Balancing wonder with accessibility is vital for innovation and ethical use of trade tech, especially as advancements transform trade finance, making it more efficient and secure.
Letters of credit represent the bulk of trade services offered by banks in Bangladesh and the country’s tense governmental transition has been closely watched by the industry. In this article, Bangladesh's political and economic challenges and their impact on trade are considered.
