In the latest installment of this annual survey article series, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2024.
URDG 758 and the UN Guarantee Convention both address independent guarantees and in many respects their content is similar, but differences exist in their areas of focus.
UCP600 interpretation challenges arise as banks often misconstrue article purposes. Beneficiaries risk losing payment guarantees due to misinterpretation during credit-complying presentations
