Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
A deceptive LC transfer leads a confirming bank to pay twice. Explore this trade finance fraud case from Abdurrahman Özalp’s book on international trade.
The LC concept of negotiation has led to considerable misunderstanding and confusion in practice. In his article, Abdurrahman Özalp attempts to wade through areas of uncertainty and cast light on difficulties that confirming banks and beneficiaries could encounter.
