Surrendered Bills of Lading
Excerpted from the DCW Executive Summary of the 2025 ICC Banking Commission Meeting ICC Draft Opinion TA949 Dealing with a
How are LC specialists to understand UCP600 Article 38(k) in situations where a second beneficiary bypasses the transferring bank and presents documents directly to the issuing bank? Scenarios, fundamental issues, and a proposal for revising this UCP sub-article are addressed here.
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