DCW Monthly: April 2026
The ICC Banking Commission decided not to revise UCP 600 or ISBP 821. The argument: the rules are fine, what&
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In Power Projects Sanayi Insaat Ticaret Ltd v. Star Assurance Co Ltd,[[1]] the English Commercial Court held that under what it considered a “classic performance bond” the issuer could not resist payment by pointing to underlying contractual disputes and could only rely on a fraud defence known at the time of demand.
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UK Supreme Court Decides for UniCredit in Sanctions Case
The United Kingdom’s Supreme Court decision in UniCredit Bank GmbH v. Celestial Aviation Services Ltd.[[1]] was issued 25