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.
Through its digitized BNI Xpora Program, Bank Negara Indonesia (BNI) has facilitated export and import activities for 200,000 Indonesian diaspora members connected to micro, small, and medium enterprises (MSMEs) operating in the US.
According to Antara reporting, just nine million of the nearly 60 million MSMEs in Indonesia have embraced digitalization.
