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.
United Nations Commission on International Trade Law (UNCITRAL) Working Group VI (Negotiable Cargo Documents) held its 44th Session at the UN Headquarters in New York, 6-10 May 2024.
In July 2019, P.R. China presented a proposal based on the practical needs of importers and exporters in international trade on possible future work by UNCITRAL towards development of a negotiable transport document to facilitate multimodal carriage of goods, particularly by railway in the Euro-Asian space. The proposal pointed out that, unlike the ocean bill of lading, the railway consignment note does not serve as a document of title and its limited function also constrained the financing ability of banks and other institutions and increased financial pressure on importers and the risks faced by exporters in collecting payments.
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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