Understanding Letters of Credit

Understanding Letters of Credit

Letters of Credit - Are they really the life blood of international commerce? In international trade where buyers and sellers are located in different countries, there is little comfort about the credit worthiness and business standing of the parties. To overcome...

Force Majeure

Force Majeure

The term "Force Majeure" originates from the French Code Napoleon (now the "Code Civil") which states "There is no place for any damages when, as a result of Force Majeure… the debtor has been prevented from... doing that to which he was obliged." This term is...