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.
Citing media misinformation intended to create uncertainty in the oil and gas market, the State Bank of Pakistan (SBP) issued a 1 Dec 22 press release to clarify that it “has not placed any restriction (verbal or otherwise) on opening of Letters of Credit (LCs) or contracts for import of crude oil, LNG and petroleum products.”
