Since a draft was included in the presentation at issue in ICC Opinion TA.948, it prompts important questions about examination not only under UCP but also under bills of exchange law.
Two years ago, the National Bank of Ukraine (NBU) began conducting an annual survey of Ukraine’s 75 banks regarding their trade finance business. For 2020, the number of bank guarantees issued (119,955) and received (949) had a combined value of UAH 95,164.2m (USD 3.4b).
For the same period, the number of LCs issued (1,692) and received (1,569) had a combined value of UAH 35,628.4m (USD 1.3b). NBU’s report of 2021 data is anticipated for release in May 2022.
