documentary credit

ICC Opinion: Can a Discrepancy Fee Be Deducted Without Issuing a Refusal Notice? R820 (TA795rev)

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ICC Opinion: Can a Discrepancy Fee Be Deducted Without Issuing a Refusal Notice? R820 (TA795rev)

ICC Rules Study_ International Chamber of Commerce Opinion This official opinion is still quite lengthy, covering two aspects. The narrator’s argumentation process is long, and the ICC’s analysis includes another official opinion’s analysis and conclusion. However, despite the extensive content, the case details are not complex, making the reading process not tedious, though somewhat time-consuming: … Read more

ICC Opinion: Are Documents Required for Standby Letters of Credit? R798(TA763)

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ICC Opinion: Are Documents Required for Standby Letters of Credit? R798(TA763)

ICC Rules Study_ International Chamber of Commerce Opinion (Note: The following content was published on 4.2 but was deleted by the official account on the same day. To maintain continuity of ICC opinion content, it is being republished in a “non-original” format. Those who have read it can skip this.) This is a dispute arising … Read more

ICC Opinion: Direct Payment to Beneficiary by Issuing Bank After Document Presentation – R796(TA825rev)

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ICC Opinion: Direct Payment to Beneficiary by Issuing Bank After Document Presentation - R796(TA825rev)

ICC Rules Study_ International Chamber of Commerce Opinion This is a dispute caused by the issuing bank’s error in making a direct payment to the beneficiary: R796 The nominated bank makes a prepayment under its deferred payment undertaking; at maturity, no reimbursement is received; the issuing bank subsequently advises that it has effected settlement to … Read more