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.
The Indian judicial process can move at a sluggish pace, but the facts of this LC case suggest it should not have lingered. Ashish Madan considers the discrepancies and asks questions if other factors contributed to the delay.
Enactment of the 2022 Amendments to the Uniform Commercial Code updates New York’s commercial law to fully recognize electronic records. They also affirm that signed electronic letters of credit have the same legal effect as paper-based LCs.
The UK "Failure to Prevent Fraud" law presents challenges for global banks operating in the UK. Read how the law applies, and generally what banks should be doing to comply.
Given the success of practice rules and banks’ ability to more readily find resources for the proper interpretation of the rule sets, does it not make sense to avoid inclusion of a governing law or jurisdiction clause?
The recent case of Illinois DNR v. Regions Bank illustrates the importance of clear wording of automatic extension clauses and issuing banks including a final expiration date in their standbys.
CPBLs, governed by UCP600 Article 22 and addressed in several ISBP821 paragraphs, are required under credits for certain types of shipments. It is important to appreciate the operational aspects, risks, and risk mitigation techniques of CPBLs.
The maturation of UCP has included attempts to address incorrect practice regarding expiry date and presentation period of a credit. Is it time for UCP600 Article 6(d)(i) to be revisited?
In Eurobank Ergasias S.A. v. Bombardier Inc., the Supreme Court of Canada takes up the fraud exception and whether it applies regarding a demand for payment under a Counter Guarantee.
Writing in a personal capacity as a professional deeply familiar with the ICC Opinion process and the trade finance business, Dave Meynell offers response to three remarks made by Rupnarayan Bose in a June 2025 DCW article on ICC Opinion TA.948.
While both MLETR and the UCC Amendments provide means for facilitating digitalization of trade finance, key differences exist between these model laws. Marek Dubovec focuses on four main areas of difference.
