Latest news (Page 83)

Counter Standby/Counter Guarantee Practice: The Problems of Nomenclature

The lack of a common nomenclature for counter undertakings invites problems for practice and has plagued the industry for decades. It doesn't have to be this way.

Confirmed Standbys with Auto Extension Clauses

💡Editor’s Note: This query generated an exchange of emails among a group of DCW Editorial Advisory Board members whose

Avalized Drafts

Query: Can banks in the US avalize accepted drafts? If yes, than what are the guidelines, and if no, why

OCC Issues Final Rule Regarding Guarantees

The US Office of the Comptroller of the Currency (OCC) issued its final rule containing amendments to its financial guarantee

Blocked after Presentation: Another Layer of Concern

Should an issuing bank pay if presented documents comply, but it learns of recent news that an entity involved within

Proposed US Rule Would Expand Accessory Guarantees

On 3 July 2007, the US Office of the Comptroller of the Currency (OCC) issued a Notice of Proposed Rulemaking

Continental Casualty Co. v. SouthTrust Bank, N.A. [2006]

The Myth That the UCP is “Law”

In this Lowdown from the Editor, Professor James E. Byrne opines on the misplaced status some afford to UCP as the LC community awaits UCP revision.

Inoperative Conditions

So-called “inoperative conditions” regularly trouble LC users because there are both appropriate and inappropriate ways of utilizing them. Such

Automatic Extension – Notice of Non-Extension

The Problem UCC 5-106(b) provides: “After a letter of credit is issued, rights, and obligations of a beneficiary,

UCP600 Analytical Commentary Excerpt -- Article 14(g)

Redback Networks, Inc. v. Mayan Networks Corp. [2004]

How LC Proceeds Impact Bankruptcy Damage Caps: Explore how a U.S. court ruled LC proceeds as security deposits under bankruptcy caps, reshaping landlord claims and issuer risks.