Latest news (Page 78)

Effective Date of Cargo Insurance for Multimodal Transport and Air Transport Shipments

Conflicting interpretations persist over whether insurance documents issued on the actual flight date—but after a transport document’s issuance—are discrepant. This article examines the implications under ISBP 745, UCP600, and CIP Incoterms® 2020, and explains how to avoid costly risk gaps.

Use of Digital Signatures Due to Coronavirus

Standby Letters of Credit with “Pay and Walk” Clauses: How They Work and What to Watch for

Certain banks issuing standby letters of credit subject to ISP98 (or demand guarantees subject to URDG758) have been including “Pay

The Problem Is Not with the UCP, It’s with the LCs

Calls to simplify the UCP are nothing new—but are we solving the wrong problem? Buddy Baker argues it’s not the rules that need fixing, but the over-complicated letters of credit themselves. Could a simpler LC structure reduce errors, speed up processing, and cut through the red tape?

Potential Issues with Demand Guarantees – Lessons for Bankers from a Singapore Case

A Singapore court case highlights critical pitfalls in handling demand guarantees. This article unpacks lessons for bankers on documentation, fraud risk, counter-guarantees, and navigating complex cross-border disputes.