Drawing on the China case, Luoyang Aviation, Saibo Jin examines the relationship between the transferred credit and the original credit.
Banks that handle collections must not neglect the product and have proper controls in place to deal with the risks.
In the latest installment of his article series on originality of paper and electronic documents, Pavel Andrle addresses practical use of the current ICC rules and matters he believes need clarified to better facilitate use of electronic records in trade finance.
In AXA v. Chiu Teng, Singapore’s top court confirms liability under a performance bond absent a prior ruling or admission of breach. The case highlights the importance of precise drafting and reinforces the binding nature of bond terms over labels like “guarantee” or “on-demand.”
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