Surrendered Bills of Lading
Excerpted from the DCW Executive Summary of the 2025 ICC Banking Commission Meeting ICC Draft Opinion TA949 Dealing with a
The BNP v. Natixis case involved the assignment of letter of credit (LC) proceeds and nomination under an LC, raising legal considerations. The court ruled in favor of the assignee (BNP), stating that Natixis waived any right to setoff when accepting the assignment. A Chinese law view
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