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.
Two years ago, the National Bank of Ukraine (NBU) began conducting an annual survey of Ukraine’s 75 banks regarding their trade finance business. For 2020, the number of bank guarantees issued (119,955) and received (949) had a combined value of UAH 95,164.2m (USD 3.4b).
For the same period, the number of LCs issued (1,692) and received (1,569) had a combined value of UAH 35,628.4m (USD 1.3b). NBU’s report of 2021 data is anticipated for release in May 2022.
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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