Since a draft was included in the presentation at issue in ICC Opinion TA.948, it prompts important questions about examination not only under UCP but also under bills of exchange law.
Sri Lanka: Importers now Insisting on Confirmed LCs
As the country’s foreign exchange shortage worsens, regular suppliers of imports who previously extended credit terms are now insisting on confirmed LCs.
As the country’s foreign exchange shortage worsens, regular suppliers of imports who previously extended credit terms are now insisting on confirmed LCs. Importers are also facing delays in honoring LCs and incurring high demurrage charges as a result of goods held up at port awaiting clearance.
