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.
Case heard by China's Supreme People’s Court deals with questions regarding alleged fraud and the nature of a transferable credit under UCP600 Article 38.
Retrial application dismissed in case involving a dispute over alleged fraud and application the PRC Independent Guarantee Provisions to a standby LC governed by ISP98.
Various articles from the June 2024 edition of DCW caught the attention of ICC Banking Commission Senior Technical Advisor Dave Meynell who offers the following comments.
This in-depth discussion between two leading figures in the study of LC law & practice is based on an online lecture on 25 February 2024. In their remarks, Saibo JIN and SOH Chee Seng talk about the "thinking" and different methods of analysis adopted by international banking experts.
Following revision of its Terms of Reference for handling the technical side of its work, the ICC Banking Commission announced the confirmation of Ms. Farideh Tazhibi of ICC Iran and Mr. Jin Saibo of ICC China as Technical Advisors.
Exploring the guarantor's right of recourse, analyzing legal concepts, international banking practices, and banking structures in China. Specifically guarantees and counter guarantees.
