Independence
Sanctions Clauses in Trade Finance Instruments
Sanctions clauses that are wisely or imprudently constructed continue to be inserted into trade finance instruments and may heavily impact the legal rights and transactional obligations of involved parties.
UBAF (Hong Kong) Ltd. v. CAMA (Luoyang) Aviation Protective Equipment Co. & Luoyang Aviation Engineering Construction Co. [2020]
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”.
To What Extent is a Confirming Bank’s Undertaking Independent of the Issuing Bank’s Undertaking to the Beneficiary?
Confirmation to any modern-day documentary credit is an essential risk mitigation tool for a beneficiary that enables it to deal
Lexon Insurance Co. v. FDIC [2021]
Beneficiary argued that LCs are not contracts or leases and that FDIC as Receiver of closed Issuer lacked the authority to repudiate.
LC Use in Commercial Real Estate Lease Transactions
Most issuers of, and beneficiaries under, letters of credit are familiar with the impact a tenant bankruptcy has on the
