DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
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This month we’re digging into the legal, operational, and regulatory tensions at the core of LC and guarantee practice.
In advance of Ramadan 2023, the Pakistan government listed tea as an essential commodity in order to meet high domestic demand for tea, and the government ordered State Bank of Pakistan to issue mandatory instructions for banks to open letters of credit for tea, declaring tea a ‘primary import’.
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