This month’s edition emphasizes how seemingly small drafting choices and operational decisions can lead to substantial legal and compliance
At its first quarterly discussion session of 2026 on 27 January, the ICC Banking Commission finalized ICC Opinion TA958rev. It
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
So-called “inoperative conditions” regularly trouble LC users because there are both appropriate and inappropriate ways of utilizing them. Such conditions
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