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.
Continuing an annual survey written by top legal experts each year since 1992, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2023.
Contractor Shinetec (Australia) and parent company Shanxi Construction Investment Group (standby applicant) appealed dismissal of claims against beneficiary The Gosford.
Conducted by the American Bar Association and the American Bankers Association (ABA), the 36th annual ABA/ABA Financial Crimes Enforcement Conference took place 8-9 October 2024 in Arlington, Virginia.