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.
When issuing banks insert complex reimbursement terms and self-serving conditions into their credits, it distorts the purpose of the product, causes problems for confirming banks, and drives exporters away from using LCs.
The article “My Take on the Need for ICC Interpretation of UCP 600 Article 35” by Pavel Andrle (Oct 2020
Gain full access to analysis, cases, eBooks and more with a DCW Free Trial
