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Documents presented under a letter of credit must strictly comply with the requirements of the letter of credit in order for the issuing bank to make payment.
On one level, Standard Chartered Bank v Dorchester LNG(2) Limited concerns a technical issue in relation to the application of s.5(2)(b) of the Carriage of Goods by Sea Act 1992.
The Maritime Labour Convention came into force internationally on 20 August 2013 and within two weeks of port state control having commenced, the first vessel was detained for non-compliance.
Ince & Co has released its latest update on UK anti-corruption measures.