Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
The Bank of England reversed its plan to raise trade finance capital requirements from 20% to 50%, aligning with the EU approach but raising insurance-related requirements.
