Berne Union issues its annual report to celebrate its 80th birthday
21/05/2014
The Berne Union 2014 report, known as BU80, has some 23 feature articles by prominent people from the agencies, private insurance and export finance sector. Berne Union 2014.pdf
Lloyds, SocGen turn to eUCP for digital letters of credit 18/09/2026
Société Générale and Lloyds have completed a fully digital trade transaction between the UK and France, using Enigio’s technology, in what the French lender describes as a first-of-its-kind deal...more
UK Court endorsement of the letter of credit autonomy principle 18/09/2026
Although the central issue in the case of Trafigura v SONARA [2026] EWHC 1914 (Comm) concerned an anti-suit injunction to enforce the exclusive English jurisdiction clause in a sale contract, the Commercial Court's decision serves to reaffirm the principle and purpose underpinning letters of credit: that the obligation to pay under a letter of credit is autonomous and independent of the underlying trade transaction, the objective being to shift the risk of non-payment under the underlying contract from the seller to the buyer...more
