DISCUSSING FORCE MAJEURE SITUATIONS IN LC TRANSACTIONS Yesterday on New Year’s Day 2024, Central Japan suffered terrible earthquakes, causing many houses and roads to collapse and many people to die. The earthquakes caused Mr. Old Man recalls the 8.9 magnitude earthquake accompanied by a 10-meter high tsunami that occurred in Japan on March 11, 2011. That day, together with Kim Sindberg, Editor-in-Chief of Trade Services Update, Mr. … Read More
THE FORCE MAJEURE RULE * By Nguyen Huu Duc and Kim Christensen Nguyen Huu Duc is Deputy Director of Vietcombank Da Nang See bio here: http://tradeservicesupdate.com/editor_duc Kim Christensen is Vice President and Head of Trade Products & Business Relations at Nordea Trade Finance See bio here: http://tradeservicesupdate.com/editor_christensen A powerful 8.9 magnitude earthquake accompanied by a ten meter tsunami hit Japan on Friday, 11 March 2011, … Read More