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.
Proposed EU Capital Requirements Regulation changes may raise credit conversion factor for standby letters of credit. Limited data suggests low default rates. Banks issue standbys for fees, and despite credit risk, many expire unused.
A chronic concern for banks is when intended LC beneficiaries – often government agencies, municipalities, insurance companies, and other so-called power
Use of UCP600 for standbys continues, despite there being better suited rules in ISP98
DCW wishes to recognize my retirement as a lawyer after 50+ years, all with Baker & McKenzie1 and including 30+
Following a career of more than 50 years as a lawyer, including more than three decades concentrating on letters of
In a recent discussion, standby specialists took up the matter of a US issuer of a non-transferable standby being presented
Pavel Andrle's exploration of the originality of paper and electronic documents - Part 1 of a three part series.
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
Different jurisdictional interpretations of guarantee law reinforce the need for practice rules in demand guarantee transactions.
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
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