Letter of Credit Forum

We have our first letter of credit case for 2016. (Great Lakes Gas Transmission Limited Partnership, v. Essar Steel Minnesota et al)

The resolution of the case did not evolve around letter of credit principles but revealed that US jurys believe that discount rates for future damages are 4.3 percent. Quite an interesting finding considering the interest rates banks are willing to extend to the depositing public and Yellen's cautious increase.

Letters of credit have lost some of their luster compared to the seventies (my niece recently reminded me that it is truly offensive to call a classmate "you are so eighties"). Unruly timeshowever will rely on save payments and that is where we come in.

Happy new year.