In partnership with the International Trade & Forfaiting Association (ITFA), Trade Treasury Payments (TTP) published its “Trade Finance Guide 2026”
It's been just under two months since the ICC Banking Commission voted against revising UCP 600, but the
Although the ongoing Middle East conflict continues to impact international commerce in various ways, the ICC has issued a statement
Paul Roder examines why the Court decision in Starr Indemnity is troubling both in its interpretation of the auto-extension clause and the practical effect it may have on the industry.
Many letters of credit contain an automatic extension (or “evergreen”) clause. Typically, such a clause provides that the expiration date of an LC automatically extends (without amendment) for set, successive periods of time (usually annually) unless the issuer provides notice to the beneficiary that the issuer will not further extend.
A recent case decided in the U.S. District Court for the Southern District of New York highlights the risk to issuers, applicants, and beneficiaries alike in employing imprecise or potentially ambiguous language in an auto-extension clause.
It's been just under two months since the ICC Banking Commission voted against revising UCP 600, but the
Case from China's Jiangsu High People’s Court involving issuing bank suing carrier for compensation for carrier’s release of cargo against applicant’s letter of indemnity in lieu of original bill of lading contains important lessons for banks.
Following the majority vote against UCP revision by ICC National Committees, Dave Meynell offers evidence suggesting education and guidance is the prudent way forward.
For LC bankers to meet the challenge of price verification while upholding the independence principle, there's no substitute for exemplary knowledge of customers and their businesses.
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