Retrial application dismissed in case involving a dispute over alleged fraud and application the PRC Independent Guarantee Provisions to a standby LC governed by ISP98.
Practice rules for independent undertakings do not address "pay and walk" clauses that are being used in some regions and shunned by others. Here, David Williams puts forth an alternative option for consideration.
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.