Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
A recent Paper released by S&P Global Market Intelligence offers insights on developments stemming from the increase in illicit trade behaviours following the gradual rollout of stringent sanctions targeted at Russia.
“The Impact of Russia’s Invasion of Ukraine: A Trade Finance Compliance Perspective – August Update” (8 pages), freely available on request from S&P Global Market Intelligence, addresses vessel activity in the Crimea Joint War Committee (JWC) high-risk zones, illicit shipping tactics, suspected theft of Ukrainian grain by Russian and Syrian bulk carriers, Russian oil movements, Russian supply chain trends, and dual-use goods and commodities of concern.
Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
On 15 Feb 2023, DCSA members pledged to issue 50% of bills of lading (B/Ls) electronically by 2028 and 100% by 2030, aiming to cut costs and boost global trade.
