Coronavirus (COVID-19)—implications for trade and commodity finance transactions
Coronavirus (COVID-19)—implications for trade and commodity finance transactions

The following Banking & Finance practice note provides comprehensive and up to date legal information covering:

  • Coronavirus (COVID-19)—implications for trade and commodity finance transactions
  • Impact of coronavirus on the trade and commodity finance market
  • International Chamber of Commerce (ICC) guidance on its rules
  • Force majeure
  • Modifying ICC rules for specific trade finance instruments
  • The use of electronic documents
  • Delivery of documents
  • Trade finance instruments and force majeure
  • Commercial letters of credit
  • Standby letters of credit
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for lending lawyers?

This Practice Note sets out the key issues relevant to trade and commodity finance during the coronavirus (COVID-19) outbreak.

For information on the general issues arising from the coronavirus outbreak that are likely to be of interest to banking & finance lawyers in general, see Practice Note: Coronavirus (COVID-19) implications for Banking & Finance lawyers and, in particular Force Majeure, Execution of documents, Brexit, LIBOR, Regulation for banking lawyers, Restructuring, and Corporate.

For information on general lending issues arising from the coronavirus outbreak, see Practice Notes: Coronavirus (COVID-19)—implications for lending transactions and Coronavirus (COVID-19)—Banking & Finance frequently asked questions.

Impact of coronavirus on the trade and commodity finance market

Geoffrey Wynne, partner and head of the trade and export finance practice at international law firm Sullivan, considers the impact that coronavirus may have on the trade and commodity finance market and looks at the

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