Expert Commentaries

If you ask a banker, an exporter, an international cargo insurance specialist, a carrier or a freight forwarder, what the biggest problem is when d...

The “fraud exception” and the L/C independence principle As L/C practitioners know, the documentary credit is a bank’s undertaking to pay against ...

UCP600 has been in force near five years. When it has been published, many experts or banking practitioners believe that one of the main difference between UCP500 and UCP600 lies in that the nominated will be protected if it provides financing to the beneficiary under UCP 600 especially in acceptance or deferred payment credits!

There are a number of letter of credit issues that by the users (importers and exporters) are considered “banking issues” – i.e. of no real releva...

An irrevocable standby letter of credit (standby LC) can only be revoked or rescinded with the consent of the beneficiary. This judgment was given...

We have had a high value standby LC on our books for approximately 7 years. It was originally issued subject to UCP 500 then amended to UCP 600. T...

As a beneficiary under commercial LCs it is our company policy to request confirmation on all LCs issued by banks in certain markets.Approximately ...

For many years as a banker I eagerly examined documents presented under export L/Cs and searched with conviction for discrepancies which I knew wer...

Irish exports are expanding at unprecedented levels. The traditional reliance on the United Kingdom and other nearby European markets for export re...