The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
The appeal in Zenrock. In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
In a wide-ranging overview of the documentary credit’s origins to its future viability, David Meynell is laser-focused on making the case that digital technology has thrust documentary credits into a promising new era primed to offer increased efficiency, transparency, and security.
Explore ISP98's evolution and global impact on standby LCs - 25 years on. Discover its unique features, comparisons with UCP 600 & URDG 758, and the challenges users face.
Issuing bank received a timely demand that complied with the standby. However, on the beneficiary’s cover letter, the payment instruction request to remit payment to their account with a different bank than what is stated on the certification.
