Letter of Credit

News & Analysis as of

UBS Puerto Rico, Others Tied to SEC Fraud Action

When the bond market collapsed in Puerto Rico many clients at UBS Financial Services Incorporated of Puerto Rico had significant losses. Many had purchased shares of UBS PR closed-end funds or CEFs. UBSPR had been selling...more

Successful Strategies for Doing Business in Asia: Thailand (Updated)

WHAT ROLE WILL THE GOVERNMENT OF THAILAND PLAY IN APPROVING AND REGULATING FOREIGN DIRECT INVESTMENT? The Thai government regulates foreign direct investment by requiring foreign investors to obtain approval from the...more

Business Litigation Report - July 2015

Introduction - Issue preclusion is a familiar concept to most practicing attorneys. Under this doctrine, “later courts should honor the first actual decision of a matter that has been actually litigated.” Charles Alan...more

OCC Takes a Page from the CFPB’s Playbook on Overdraft Programs

On February 11, 2015, the Office of the Comptroller of the Currency (“OCC”) issued an “updated” installment to the Comptroller’s Handbook in a new booklet entitled “Deposit-Related Consumer Credit.” In doing so, the OCC stole...more

Credit Escalation Clauses in Letters of Credit

It is increasingly common to have a ‘credit escalation clause’ in a documentary letter of credit (“LC”) relating to the sale and purchase of crude oil and petroleum products. This alert, which follows alert 13-215 Letters of...more

Letters of Credit and Commodities Contracts – Best Practices Revisited/Optional Confirmation

In this client alert, we revisit some best practices for using documentary letters of credit as the payment mechanism under commodities contracts. We also look at L/C confirmation and confusion which can arise with "may...more

Australia: Performance Security: Bonds, Guarantees And Letters Of Credit

INTRODUCTION - When considering security requirements to support project contracts, parties often wonder what form of security is appropriate - a performance bond, parent company guarantee, bank guarantee or letter of...more

Using Letters Of Credit For Tenant Credit Enhancement

I. Introduction. Cash security deposits (typically in the amount of one or two month’s rent) have been the traditional form of tenant credit enhancement required by commercial landlords. However, in instances where...more

Construction to Permanent Loan on the Return: Tips on Due Diligence and Loan Documents (part 1)

Credit seems to be more available for commercial real estate. For example, I know of one commercial real estate lender working on a construction to permanent loan program. This type of lending blends two types of loans: a...more

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