DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
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This month we’re digging into the legal, operational, and regulatory tensions at the core of LC and guarantee practice.
Disputes over Independent Guarantee Fraud, Independent Guarantee Payment, and Improper Dishonor
Local Guarantor petitioned for rehearing from the Supreme People’s Court of order for Counter Guarantor to terminate payment to Local Guarantor for having committed guarantee fraud and not acting in “good faith”.
[2023] SGHC 210 [Singapore] Cases Referenced: * CRK Contract Services Pte Ltd. v. Asplenium Land Pte Ltd. [2015], [2015] 3 SLR
In-depth look into use of independent guarantees in China's international trade, addressing risks like fraudulent calls and abuses.
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