How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
The Central Bank of the UAE (CBUAE) has assessed a AED 19.5 million (USD 5.3m) financial sanction on UAE bank for poor AML / Sanctions systems
The Central Bank of the UAE (CBUAE) has assessed a AED 19.5 million (USD 5.3m) financial sanction against a bank operating in the UAE for “the bank’s failure to achieve appropriate levels of compliance in its AML & Sanctions Compliance Frameworks for an extended period of time.”
Previously, CBUAE had imposed monitoring on the bank to require the appointment of a consultant to take necessary urgent action to reach compliance standards. In a 14 December 2021 public release announcing its enforcement, CBUAE does not name the bank.
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
Following the discussion of ICC Opinions on 2 July 2024, updates on other ICC Banking Commission projects were given. ICC
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter
In an attempt to clarify aspects of UCP600 Article 10, the ICC Banking Commission has issued its 10th Technical Advisory
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