Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
In the fourth instalment of his DCW article series on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell reinforces the case for simple documentary credits and offers tips on how to construct them.
The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
The ICC Banking Commission held its 2024 Annual Meeting on 9-10 April in-person in Paris and virtually via Teams. An opening session on the ISBP review process was followed by the ICC Official Opinions session. Day 2 featured thematic sessions and the Commission’s semi-annual Plenary Meeting.
The historical challenges of suretyship in English law, emphasizing the need for modernizing guarantee forms. Recent cases, like Shanghai Shipyard, underscore the importance of clarity.
The ICC Banking Commission released its “Technical Advisory Briefing No. 1” on the topic of Non-Documentary conditions in Documentary Credits subject to UCP 600.
