Swept up in the enthusiasm around new, perhaps more sophisticated, trade finance instruments, it can be easy to overlook the Letter of Credit (LC). David Bischof, policy manager at the International Chamber of Commerce (ICC) Banking Commission, reminds us of its importance.
Letters of credit
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The Banking Commission of the International Chamber of Commerce (ICC) has announced the appointment of two new technical advisors for the production of official Banking Commission Opinions – important resources for legal and banking professionals as well as scholars that are often cited by courts to assist in dispute resolution.