At its first quarterly discussion session of 2026 on 27 January, the ICC Banking Commission finalized ICC Opinion TA958rev. It
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
Like certain other terms used in the LC and guarantee field, “assignable” can mean different things to different parties. Glenn Ransier reviews what the practice rules say and the importance of clarity.
From time to time, I have received standby letters of credit and/or demand guarantees (collectively undertakings) or applications requesting the issuance of an undertaking indicating that it is or should be “assignable” or with wording that: “This (insert undertaking type) may be assigned”. Thesaurus resources indicate that the strongest synonyms for the word “assignable” are “debatable” and “transferable”. This begs the question, what is the intended meaning of the term “assignable” by: a) the party requesting an issuance; and b) the party issuing the undertaking when the term is included?
At its first quarterly discussion session of 2026 on 27 January, the ICC Banking Commission finalized ICC Opinion TA958rev. It
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
In Trafigura PTE Ltd. v. Gupta[[1]], a London High Court ruled in favor of Trafigura in its USD 500
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