Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
The 2nd Global Trade Facilitation Summit (GTFS2023), themed “Trade Transformation and Technology”, took place at Dubai Chambers, Dubai, UAE, 13-17 March 2023.
The evolution of trade finance from manual processes to digitalization is now advancing into the metaverse. Emerging technologies like augmented reality and virtual reality, facilitated by the metaverse, promise enhanced security, authentication, and timestamping.
