Latest news (Page 29)

Canadian Province Proposes Surety Bonds as Option for Securing Municipal Obligations

In a development related to past reporting of standby and bond usage at the municipal level in Canada, the Canadian

China Construction Bank Sued Over LC Fraud Connected to Vesttoo

White Rock, an insurance solutions provider owned by Aon, filed a lawsuit on 27 August 2024 against China Construction Bank

Two Draft Opinions to be Discussed at November 2024 ICC Banking Commission Session

Two Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on

Australia and New Zealand Banking Group Ltd. Manila Branch v. China National Electric Engineering Co., Ltd. & Bank of Jiangsu [2023]

Disputes over Independent Guarantee Fraud, Independent Guarantee Payment, and Improper Dishonor

Bayport Polymers LLC v. CB&I, LLC [2024]

Beneficiary Bayport Polymers appealed temporary injunction restraining presentation of LC documents.

World Fuel Services, Inc. v. First Service Bank [2024]

Issuer First Service Bank moved to dismiss wrongful dishonor complaint brought by World Fuel Services.

“Proclaimed Offender” Accused of Forging LC Arrested

India’s Central Bureau of Investigation (CBI) has arrested a man declared a “proclaimed offender” by an Indian special court

Nigerian Airline Officials Indicted in US for Obstruction of Justice

Further to a story previously reported (Oct 2022 DCW 45), the CEO and founder of Nigerian airline Air Peace, has

Carter Klein - LC & Standby Cases

ICC Defines Trade Finance

Expressing concern that a poorly constructed definition of trade finance could cause unintended negative consequences for the business, the ICC