This month, we're spotlighting the challenges and hard-earned lessons emerging from LC disputes and sanctions enforcement crackdowns. Carter
DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
Continuing an annual survey written by top legal experts each year since 1992, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2023.
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
UCP600 interpretation challenges arise as banks often misconstrue article purposes. Beneficiaries risk losing payment guarantees due to misinterpretation during credit-complying presentations
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
ChatGPT and human oversight for drafting and reviewing LC transactions in the AI age.
Examining "Green Guarantees": investigating their essence, providers, viability, and the involvement of Corporates and Financial Institutions.
A look into application of US UCC Article 5 for letter of credits outside of the United States
This paper explores vessel risk based upon whether Group Ownership information is known or unknown for each vessel alongside identified compliance behavior.
Amr KAMAL explores integrating ICC's URDG758 into Egypt's commercial law for demand guarantees, emphasizing the advanced nature of Egyptian law in recognizing demand and suretyship guarantees, drawing comparisons with global practices.
Pavel Andrle's exploration of the originality of paper and electronic documents - Part 3 of a three part series.
The Windsor Township v. Tompkins Financial Corp. case emphasizes the significance of original letters of credit but questions their necessity in modern electronic transactions.
Despite advancements, eUCP has limited use, especially in China. The article discusses the challenges of electronic presentation and underscores the importance of recognizing electronic records on par with paper documents in LC transactions.
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