DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
This month, we sort through some of the big questions shaping LC practice today. Is it time to rewrite UCP
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
The LC concept of negotiation has led to considerable misunderstanding and confusion in practice. In his article, Abdurrahman Özalp attempts to wade through areas of uncertainty and cast light on difficulties that confirming banks and beneficiaries could encounter.
In the first of his series of DCW articles on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell examines the concept of negotiation.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
💡Kuvera Resources Pte Ltd. v. JPMorgan Chase Bank, N.A. [2023] [2023] SGCA 28 [Singapore] Type of Lawsuit: Beneficiary appealed
The Windsor Township v. Tompkins Financial Corp. case emphasizes the significance of original letters of credit but questions their necessity in modern electronic transactions.
Negotiating Bank sued LC Issuer for breach of reimbursement undertaking.
Honour, negotiation, and reimbursement – individually and collectively – are perhaps some of the least understood (or most misunderstood) terms in letter
The definition of “Banking Day” in UCP600 Article 2 ¶ 3 requires interested and affected parties to look outside the terms of the UCP to determine what days are actually banking days.
Gain full access to analysis, cases, eBooks and more with a DCW Free Trial
