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.
Tom Cardamone, Jr. is the President of Global Financial Integrity, a Washington, DC-based think tank focused on illicit financial flows, corruption, illicit trade and money laundering.
This paper explores vessel risk based upon whether Group Ownership information is known or unknown for each vessel alongside identified compliance behavior.
