This month’s edition emphasizes how seemingly small drafting choices and operational decisions can lead to substantial legal and compliance
At its first quarterly discussion session of 2026 on 27 January, the ICC Banking Commission finalized ICC Opinion TA958rev. It
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
The legal consequences of backdating paper bills of lading under letters of credit and use of surrendered bills of lading emerge from the China case, Ningbo Nanheng Import and Export Co. Ltd. v. Shinhan Bank Co.
Beyond questions on the rule of strict construction of LC terms, the In re Spiegel case should engender a discussion of the requirements of UCP vs. ISP on what certified means with respect to a government or court-issued document.
In an attempt ensure global understanding of the wording “read in context with” as used in UCP600 Article 14(d)
Explore ISP98 Rule 4.18 on negotiable documents, addressing endorsement, presentation, and transfer in standbys, with analysis and insights.
The appeal in Zenrock. In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
Vessel Owner appealed summary judgment granted to unreimbursed Issuer that alleged misdelivery. -- footnote 4 link to other case?
The ICC Banking Commission held its 2023 Annual Meeting as a virtual event conducted via the Zoom online platform. An ICC Official Opinion session attracting more than 200 participants took place on 18 April, followed by a Plenary session on 19 April.
Negotiating Bank sued LC Issuer for breach of reimbursement undertaking.
Practical advice for modifying and excluding UCP600 articles in commercial letters of credit.
Letters of credit have been around for decades, probably since the 19th Century or earlier. We are now in the
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