This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
Argentine lawyer Jorge Riva highlights how ICC rules are already providing an adequate environment for accommodating electronic means and how intense work continues for expanded use of electronic credits.
In recent years, the process of digitalizing international trade documents has gained renewed momentum and in this sense the efforts of the International Chamber of Commerce (ICC) have been concentrated within its Digital Standards Initiative (DSI) for the development of standard formulas for digitalizing documents for international trade. DSI has also helped raise awareness of the Uniform Rules for Digital Trade Transactions (URDTT) and alignment of the eUCP rules for documentary credits with the UNCITRAL Model Law on Transferable Electronic Records (MLETR).
This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
URDG 758 Article 15(c) makes clear that the requirement stated in Article 15(a) always applies unless expressly excluded in the guarantee, but does ISDGP help or harm in explaining this provision?
Gain full access to analysis, cases, eBooks and more with a DCW Free Trial
