CML Events

CML Seminar Series:	Developments in Letters of Credit Law
Speaker:	Visiting Research Professor Jason Chuah
Convenor:	Professor Neale Gregson

In the scope of providing continuing legal education through seminar series, the Centre for Maritime Law (CML) organised its second successful seminar for the year 2016. The seminar was conducted by Professor Jason Chuah, Head of Department and Professor of Commercial and Maritime Law at the City Law School, London, who is currently a Visiting Professor at the CML.

50 shipping and trade finance professionals attended the seminar which touched on the recent practices in international transactions that involve letters of credit, addressing some of the practical and legal risks. The speaker focused on the challenges that unconventional clauses, such as sanction, anti-corruption, credit or price escalation and Islamic compliance clauses have given rise to. Issues on shipping and commercial documentary practices and their compliance with the UCP 600 were also discussed. Finally, the seminar examined the problems arising out of silent and double confirmations and whether these confirmations should be recognised in law.

Participants also contributed valuable information and comments with regards to current practices from the banks' perspective, especially with regards to sanctions, which were characterised by the convenor, Professor Neale Gregson as "an increasingly hot topic" in arbitration disputes.

Event Flyer : http://law.nus.edu.sg/pdfs/cml/events/CMLSS_20160310_flyer.pdf

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