Standby LC

Experior Global Warehousing, LLC v. BTC III Hamilton DC LLC [2023]

An Embedded Thorny Clause to Clear Payment of Standby

Issuing bank received a timely demand that complied with the standby. However, on the beneficiary’s cover letter, the payment instruction request to remit payment to their account with a different bank than what is stated on the certification.

One Step Up Ltd. v. Manhattan Beachwear, Inc. [2023]

North Asia Ltd. v. Jingdong e-Commerce (Trade) Hong Kong Corp. [2023]

Standby Issuance for a High-Valued Client and the “X” Factor

Temporary Injunction against LC Beneficiary in Credit Agricole Case Vacated on Appeal

Strabag, SpA v. Credit Agricole CIB case appeal

Standard Chartered, Truist Bank Form Trade Finance Partnership

Standard Chartered, Truist Bank Form Trade Finance Partnership to allow their customers to conduct global business more efficiently.

LCs Added as Financing Option for US DoD Foreign Military Sales

ICC & Swift Release API Standards for Guarantees & Standbys

The ICC announced on 13 August 2023 release of the first application programming interface (API) industry standards for bank guarantees

ERA Capital L.P. v. Soleil Chartered Bank [2023 No. 02845]

Investigations Expand into Vesttoo LC Fraud Allegations

The US Federal Bureau of Investigation’s (FBI) has reportedly begun its own probe into allegedly fraudulent letters of credit