Maybank gains appeal in Malaysia's Federal Court against Punjab National Bank. The judgment emphasizes compliance with UCP600 in LC matters, affirming the validity of documents and the negotiating bank's right to make advanced payments based on faxed copies.
The ICC’s Incoterms® rules only reflect the most commonly used commercial practice. Therefore, where a situation demands and parties are in agreement, the rules may be amended to deviate from the default provisions or add to the rules to bring more precision.
Analysis of Natixis, New York Branch v. BNP Paribas case. Insights on acknowledging notice of assignment, setoff rights, and lessons for LC issuing banks. Learn more about structuring SBLCs effectively
In McNeil & NRM Inc. v. SA Bank Audi France, the court ruled on a dispute over an advance payment guarantee. The case highlights the importance of precise guarantee wording and adherence to standard practices in international transactions.
DCW executive summary of ICC Banking Commission annual meeting covering ICC Opinions, Swift messaging, the trade finance gap, sustainable trade finance and more.
The BNP v. Natixis case involved the assignment of letter of credit (LC) proceeds and nomination under an LC, raising legal considerations. The court ruled in favor of the assignee (BNP), stating that Natixis waived any right to setoff when accepting the assignment. A Chinese law view
Honour, negotiation, and reimbursement – individually and collectively – are perhaps some of the least understood (or most misunderstood) terms in letter
