In international trade, banks often rely on other banks — known as instructed parties — to perform specific tasks under a Letter of Credit (LC). These tasks may include advising,…
In international trade, unexpected events such as wars, natural disasters, or system failures can interrupt banking operations and delay payments or document processing. To address such risks, Article 36 of…
In international trade, Letters of Credit (LCs) rely heavily on communication — often transmitted via SWIFT, mail, fax, or courier. But what happens if a message is delayed, distorted, or…
In international trade under Letters of Credit (LCs), banks deal only with documents — not with the goods, services, or performance they represent. But what if those documents turn out…