Seeking to enhance liquidity for Bangladesh exporters by enabling their early repatriation of export proceeds under deferred payment letters of
Applicant sued, claiming that demands on four performance bonds were unconscionable.
The ICC Banking Commission’s quarterly meeting, held via Zoom on 21 October 2025, discussed six draft opinions, the status of Technical Advisory Briefings, a call for comments on the future of UCP and ISBP, and the emergence of stablecoin as relates to ICC rules and digital trade law.
The ICC Banking Commission’s quarterly meeting, held via Zoom on 21 October 2025, discussed six draft opinions, the status of Technical Advisory Briefings, a call for comments on the future of UCP and ISBP, and the emergence of stablecoin as relates to ICC rules and digital trade law.
ICC Opinion TA952 involves two open-ended guarantees issued subject to URDG 458 (1992) and French law. Although the applicant indicated that the underlying obligations for the guarantees have been satisfied, the beneficiary “no longer exists” and therefore cannot affirm the obligations have been fulfilled. The Query asks a series of questions, including whether URDG 758 supersedes URDG 458, whether the guarantor can cancel the guarantees outright or based on beneficiary’s prolonged silence as evidence they no longer exist. Also, what proof, if any, the guarantor needs to furnish that the beneficiary no longer exists and whether the beneficiary would have any legal recourse to claim on the guarantees if they were cancelled.
Seeking to enhance liquidity for Bangladesh exporters by enabling their early repatriation of export proceeds under deferred payment letters of
Applicant sued, claiming that demands on four performance bonds were unconscionable.
An English High Court on 10 November 2025 ordered the former owners of Ukraine’s largest bank to pay the
Recent writing has explored the notion that usance payment at sight (UPAS) letters of credit serve as an effective trade
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