Jul/Aug 2024
US UCC Article 5’s Non-Variable Provisions
How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
![Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2024]](https://storage.ghost.io/c/6d/b6/6db674cd-2e89-4195-bf79-8273da209ce8/content/images/size/w30/2024/08/pacific-atlantic-pipeline-case-summary-dcw.jpeg)
Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2024]
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
![Eurobank Ergasias S.A. v. Bombardier Inc. [2024]](https://storage.ghost.io/c/6d/b6/6db674cd-2e89-4195-bf79-8273da209ce8/content/images/size/w30/2024/08/eurobank-v-bombadier-court-case-dcw.jpeg)
Eurobank Ergasias S.A. v. Bombardier Inc. [2024]
The Canadian Supreme Court affirmed Quebec appellate and trial courts, upholding permanent injunction restraining Counter-Guarantor against payment of demand by Counter-Guarantee Beneficiary.
![Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2023]](https://storage.ghost.io/c/6d/b6/6db674cd-2e89-4195-bf79-8273da209ce8/content/images/size/w30/2024/08/pacific-atlantic-pipeline-case-2023.jpeg)
Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2023]
Canada's Court of King’s Bench of Alberta denied injunction application of LC Applicant who sought to enjoin Beneficiary demand on standby LC.
LC Statistics: 1Q24 US Bank LC Issuance
DCW reports quarterly LC issuance statistics from the top 600 banks headquartered in the U.S.
ICC Opinions Finalized at July 2024 Session
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
ICC Banking Commission: AI in Opinion Analysis and Updates on ISBP Review
Following the discussion of ICC Opinions on 2 July 2024, updates on other ICC Banking Commission projects were given. ICC
US Attorney Informed of Pending Motion Regarding International Sanctions
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter
EU Adopts New Round of Sanctions Directed at Russia
On 24 June 2024, the European Union adopted its 14th round of sanctions (EU Regulation 2024/1745), amending EU Regulation
Will A Model SBLC Form Energize eUCP Use?
Energy LEAP, an organization comprised of energy trading, service and association entities, drafted and released wording in April 2023 for
Documentary Collections & Remitting Bank Instructions
The following scenario was widely discussed during a recent meeting among bankers. The relevant details: Outgoing collection documents were sent
LC Requirements for US Entities Seeking Rural Broadband Support Scrutinized
The US Federal Communications Commission (FCC) which oversees program requirements for entities attempting to secure federal funding support for broadband
