UCP 600

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