Given the success of practice rules and banks’ ability to more readily find resources for the proper interpretation of the rule sets, does it not make sense to avoid inclusion of a governing law or jurisdiction clause?
The recent case of Illinois DNR v. Regions Bank illustrates the importance of clear wording of automatic extension clauses and issuing banks including a final expiration date in their standbys.
Within the ambit of trade finance is found a broad range of products and solutions that support global trade and its growth. This article discusses Receivables Purchase, a method of financing different from traditional lending, and financing linked to documentary credits.
