Ambiguous LCs and What To Do With Them
In its latest issue, Documentary Credit World brings back one of its most compelling articles of all-time – Carter Klein’s analysis of “Ten Noteworthy US Letter of Credit Cases from the 20th Century”. Why are these cases relevant today? Bankers and LC Corporate Users can learn from what went wrong.
Says Carter of his favorite case of the past century: “So caution is the watchword when it comes to letters of credit that are ambiguous or contain terms which make it impossible for the beneficiary to comply with them. An ounce of prevention and precaution could save litigation and trouble later on.”
This February 2016 DCW also contains Pavel Andrle’s ideas for the next UCP and the latest quarterly LC stats for the Top 600 US banks. For the DCW Table of Contents click here. For more information about DCW, email: firstname.lastname@example.org