Case Note – Negotiation of Deferred Payment Undertaking Without Authorization This case highlights the risks for presenting banks when discounting a deferred payment undertaking (DPU) without explicit authorization from the issuing bank. It also illustrates how local court orders—particularly in jurisdictions that favor domestic parties—can override payment expectations under an LC, leaving the negotiating bank exposed. Fact Summary The issuing bank in Iraq incurred a deferred payment undertaking under an … Read More
Insurance Certificate “To Order” and Blank Endorsement: Is the Absence of a Named Assured a Discrepancy?
Insurance Certificate “To Order” and Blank Endorsement: Is the Absence of a Named Assured a Discrepancy?