Documentary Credit World

This article was originally published in Documentary Credit World (DCW), published by the Institute of International Banking Law & Practice.

Trafigura secures $1.9B multi-currency facility, extends $3.7B credit line. Learn about their sustainability-linked loans.

Following the latest Q3 2022 edition of its quarterly letter of credit (LC) statistics for US banks, Documentary Credit World (DCW) has released its analysis of LC issuance from banks in the country.

Since the UCP 600’s adoption in 2007, concern has persisted over what the Article 35 rule actually requires of an LC issuer if documents get lost in transit between banks. 

With the expanding use of economic sanctions within and across jurisdictions, lawyers have to consider not just the wording of the relevant economic sanctions but also how regulators will interpret whether certain activity is compliant or not and how courts will reach conclusions.

In the latest of its ongoing series of technical advisory briefings released on 27 June 2022, the International Chamber of Commerce (ICC) Banking Commission addressed the subject of ‘Reducing Discrepancy Rates under Documentary Credits’ (TAB-3).

Further to the decision made in the Court of Appeal Malaysia (appellate jurisdiction) between Punjab National Bank (PNB) and Malayan Banking Berhad (Maybank), Maybank has successfully obtained leave from the Federal Court of Malaysia Putrajaya to file an appeal against the decision made in the Court of Appeal Malaysia

✍️ In this article, Carter Klein of Jenner & Block talks about independent vs. accessory guarantees, corporate guarantees in the US, and the cases of Shanghai Shipyard and Bank Audi.

Certified Documentary Credit Specialist Ravi Jinugu explains the motivations and rationale for variation of Incoterms® rules.