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ICC Draft Opinions on UCP 600 by Monica Popovici is a document available to read on EtoBox.

What is ICC Draft Opinions on UCP 600 about?

The document provides draft opinions from the ICC Banking Commission regarding interpretations of UCP 600 provisions related to deferred payment undertakings by nominated banks. For two examples given, the Commission concludes that: 1) In the first example, where the nominated bank prepaid after receiving notice of acceptance from the issuing bank but before maturity, this did not constitute honoring in accordance with the nomination since the nominated bank did not incur its own deferred payment undertaki

Author

Monica Popovici

Language

EN