ICC Rules Study_ International Chamber of Commerce Opinion This is a dispute regarding discrepancies arising from a presentation under a standby letter of credit issued in accordance with UCP 600, and the conclusion also applies to presentations under documentary letters of credit: R821 Did the beneficiary need to present the original advice of the standby … Read more
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 Rules Study_ International Chamber of Commerce Opinion This opinion is a review of a bank guarantee required under a letter of credit, with the key point being the requirement of the bank guarantee: Payable in Country X. R818 The credit requires the presentation of a guarantee payable in Country X; the presented guarantee complies … Read more
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 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