This month’s edition emphasizes how seemingly small drafting choices and operational decisions can lead to substantial legal and compliance
At its first quarterly discussion session of 2026 on 27 January, the ICC Banking Commission finalized ICC Opinion TA958rev. It
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
Plaintiff asserted a claim under Massachusetts’ adoption of UCC Article 5-109 (Fraud and Forgery).
Aaron Saris (Plaintiff) owned real property located in Massachusetts with a mortgage serviced by Cenlar FSB. Subsequently, Plaintiff conveyed the real property by quitclaim deed and the “mortgage was then discharged.” Cenlar FSB, however, “transferred servicing responsibilities for the mortgage to” Flagstar Bank (Defendant). Defendant later erroneously debited USD 1,354.37 from Plaintiff’s bank account for a mortgage payment.
The legal consequences of backdating paper bills of lading under letters of credit and use of surrendered bills of lading emerge from the China case, Ningbo Nanheng Import and Export Co. Ltd. v. Shinhan Bank Co.
Case raises important questions and concerns about a URDG guarantee issuer’s obligations and distinguishing an independent bank guarantee from an escrow account arrangement.
Case heard by China's Supreme People’s Court deals with questions regarding alleged fraud and the nature of a transferable credit under UCP600 Article 38.
Retrial application dismissed in case involving a dispute over alleged fraud and application the PRC Independent Guarantee Provisions to a standby LC governed by ISP98.
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