DCW Monthly: June 2026
A letter of credit is built on a simple promise: the bank pays on a complying demand, and the underlying
Should an issuing bank pay if presented documents comply, but it learns of recent news that an entity involved within the transaction (shipping company, inspection service, etc) has been blocked and added to the sanctions list?
With the pace of information reaching us today via the internet and other news outlets, this scenario is certainly viable and was a recent topic of discussion during the IIBLP’s Asia Advisory Council meeting.
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