This month we’re exploring where traditional instruments meet modern LC practice, focusing especially on the complications surrounding drafts and
For the 7th year, the Institute of International Banking Law & Practice conducted its one-day Americas Trade Finance Compliance Annual Meeting. This summary provides an overview of topics discussed at the conference hosted by S&P Global on 2 April 2025 in New York and conducted as a hybrid event.
The ICC has neither accepted the draft as a standard requirement, nor have they been successful in casting it out from LC practice. This article is an attempt to resolve the confusion and place bills of exchange laws and the UCP in their proper perspectives.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a segment of the Islamic Development Bank (IsDB)
The ICC Banking Commission held its 2023 Annual Meeting on 18-19 April 2023 via Zoom, and the DCW Executive Summary follows.
Beneficiary Lodged Creditor's petition against insolvent Non-Bank Issuer alleging wrongful dishonour.
The abrupt mid-March 2023 closures of Silicon Valley Bank (SVB) and Signature Bank sent shockwaves through the US banking system
In advance of Ramadan 2023, the Pakistan government listed tea as an essential commodity in order to meet high domestic demand for tea, and the government ordered State Bank of Pakistan to issue mandatory instructions for banks to open letters of credit for tea, declaring tea a ‘primary import’.
The Windsor Township v. Tompkins Financial Corp. case emphasizes the significance of original letters of credit but questions their necessity in modern electronic transactions.
Developer Greth Development secured a letter of credit from Tompkins Financial to ensure completion of a townhouse project for Windsor Township. After project delays and a breach, Windsor sued the developer and demanded payment from Tompkins, who refused.
No country has greater reliance on letters of credit than Bangladesh so it is reasonable to surmise that reports in
OCBC sues STI Orchard and Winson Oil over losses in a deal with Hin Leong Trading involving 780,000 barrels of gasoil, leading to fraud-related losses. The transaction aimed at selling 36,000 mt of gasoline to PT Pertamina after blending.
This survey concentrates on the most significant letter of credit (“LC”)1 issues addressed in cases decided in the United
Starting March 1, 2022, Egypt's Central Bank now mandates the use of documentary credits for import operations, discontinuing documentary collections, except for certain exceptions.
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