Excerpted from the DCW Executive Summary of the 2025 ICC Banking Commission Meeting ICC Draft Opinion TA949 Dealing with a
When businesspeople engage in mutual business dealings and loans to each other under multiple corporate entities they operate but their
The High Court in Kampala (Uganda) upheld an appellate court decision on 25 July 2025 that Equity Bank lawfully sold
Since a draft was included in the presentation at issue in ICC Opinion TA.948, it prompts important questions about examination not only under UCP but also under bills of exchange law.
ICC Banking Commission Opinion TA.948 (2024) addressed a Query involving two discrepancies in a particular presentation. One was on drafts. The other was about a packing list. This analysis restricts itself to the matter impacting drafts.
The LC required, among others:
BENEFICIARY DRAFT DRAWN ON (ISSUING BANK) AT 90 DAYS FROM INVOICE DATE …
According to the Query, the nominated bank “received from the beneficiary documents containing, among others, drafts, issued to the order of the beneficiary”. The drafts were not further endorsed by the beneficiary to anyone in particular.
France adopted law aligned with the UN Model Law on Electronic Transferable Records in 2024. As of August 2025, it now a degree which defines technical criteria for a reliable method to achieve the goals of the MLETR.
In many respects, the MLEC served as a starting point for treatment of electronic transport documents in the MLETR. This article explains the consistency of some provisions contained in the two Model Laws and areas where the MLETR differs and has advanced further.
In the latest rollout of its Technical Advisory Briefings (TABs), the ICC Banking Commission has issued TAB No. 13, “Confirmation
Six Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on
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