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.
Various articles from the June 2024 edition of DCW caught the attention of ICC Banking Commission Senior Technical Advisor Dave Meynell who offers the following comments.
ICC TAB 9 points out that there is a risk of documents being presented to more than one bank at the same time, especially under an LC that is freely negotiable, but it stops short of making any recommendations for avoiding this risk. Here’s my suggestion.
At the IIBLP’s 2022 Annual LC Survey – West conference (18-19 May), delegates were asked about the general frequency in which their bank issues standbys allowing for documents to be presented electronically. Here, Buddy Baker of Goldman Sachs Bank comments on the poll results.
