Recent ICC guidance addresses practical trade finance issues arising from the Middle East conflict. Having a nimble strategic approach for coping with operational risk is paramount for banks.
Following the majority vote against UCP revision by ICC National Committees, Dave Meynell offers evidence suggesting education and guidance is the prudent way forward.
Judges at three court levels in China erred in deciding on the force majeure defense invoked by an applicant as the basis for an issuing bank’s filing for an injunction. Saibo Jin explains the case and its broader implications.
In the fifth instalment of his DCW article series on major contemporary issues surrounding documentary credit practice, ICC Banking Commission Senior Technical Advisor Dave Meynell offers his thoughts on the highly-charged question: Is it time for UCP to be revised?
At 1:29 AM on 26 March 2024, the 300-meter container vessel Dali lost power as it was departing from Baltimore (Maryland) harbor. Does this constitute a force majeure event?
For the 31st consecutive year, the Institute of International Banking Law & Practice conducted its Americas Annual LC Survey conference, 8-9 June 2023. This Executive Summary provides an overview of topics discussed and debated by leading professionals at Day 1 of the conference.
Court of Appeal allows payment in Euros despite contract in US Dollars. Implications for LCs & guarantees? RTI vs. MUR case questions currency and force majeure clauses' role in trade finance.
