Latest news (Page 38)

ICC Re-Releases Guidance Papers on Aspects of UCP Use

ICC republished four guidance papers on recommended principles and usages around the UCP600 rules in February 2023. The collection of

CPI Reference in Counter LC Text: What’s the Ultimate Obligation?

In a recent group discussion, LC professionals took up the matter of guarantee text referencing a consumer price index (CPI)

Indian High Court Reverses Order, Denies Injunction

In Wellington Cantonment Board v. Gharpure Engineering & Constructions, the Madras High Court (India) set aside a District Judge order

Egyptian LC Policy Weakened Trader Confidence

At year-end 2022, the Central Bank of Egypt (CBE) announced cancellation of its mandate requiring use of letters of credit

UK Effort Aims to Expose Duplicate Financing Fraud by Year-End 2023

A collaborative initiative underway among the International Chamber of Commerce United Kingdom (ICC-UK), the Centre for Digital Trade and Innovation

AFP Guide Addresses Trade Finance and Ongoing Pursuit of Digitalization

Windsor Township v. Tompkins Financial Corp. [2021]

Developer Greth Development secured a letter of credit from Tompkins Financial to ensure completion of a townhouse project for Windsor Township. After project delays and a breach, Windsor sued the developer and demanded payment from Tompkins, who refused.

Cooperative Law Enforcement Effort Leads to Convictions in Steel Trader Case

Turkey Declares State of Emergency after Quakes

Turkey, by way of Presidential Decree No. 6785, has declared a three-month state of emergency in ten provinces impacted by

Accounting Scandal Raises Questions about Supplier Finance

Published reports about the sudden collapse of Americanas SA into bankruptcy protection in mid-January 2023 suggest that the major Brazil

ICC Draft Opinions for April 2023 Meeting Released

Two draft opinions, one new and one re-submitted, were released in mid-February to ICC National Committees for review and comment