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.
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
Looking back at Professor James E. Byrne's 6 predictions for LCs in 2012 - see how they hold up.
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.
Local Guarantor petitioned for rehearing from the Supreme People’s Court of order for Counter Guarantor to terminate payment to Local Guarantor for having committed guarantee fraud and not acting in “good faith”.
Amr KAMAL explores integrating ICC's URDG758 into Egypt's commercial law for demand guarantees, emphasizing the advanced nature of Egyptian law in recognizing demand and suretyship guarantees, drawing comparisons with global practices.
Despite advancements, eUCP has limited use, especially in China. The article discusses the challenges of electronic presentation and underscores the importance of recognizing electronic records on par with paper documents in LC transactions.
Guarantors Caught Between Home Courts That Do Not Apply the Fraud Exception and Courts in the Counter-Guarantor's Country
The provisions of URDG can be modified, overridden, or excluded by inserting suitable replacement wording in the text of the guarantee.
Korean Supreme Court dismisses Instructing Bank's appeal in URDG458 case [2021]. Extend or Pay request ruled invalid; Counter Indemnitor not obliged to pay. Learn more about the construction dispute.
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