DCW Updates
DCW Monthly: September 2025
From London to New Delhi to New York, this issue brings together the latest laws, rulings, and rule-set debates in
September 2025
A Comparison of URDG 758 and UN Guarantee Convention
URDG 758 and the UN Guarantee Convention both address independent guarantees and in many respects their content is similar, but differences exist in their areas of focus.
DCW Articles
Delhi High Court Decides for Beneficiary. What Took So Long?
The Indian judicial process can move at a sluggish pace, but the facts of this LC case suggest it should not have lingered. Ashish Madan considers the discrepancies and asks questions if other factors contributed to the delay.
DCW Articles
New York Legislature Passes 2022 UCC Amendments
Enactment of the 2022 Amendments to the Uniform Commercial Code updates New York’s commercial law to fully recognize electronic records. They also affirm that signed electronic letters of credit have the same legal effect as paper-based LCs.
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DCW Updates
DCW Monthly: September 2025
From London to New Delhi to New York, this issue brings together the latest laws, rulings, and rule-set debates in
DCW Updates
Latest TABs Address Confirmation, Procedure for Payment under UCP600
In the latest rollout of its Technical Advisory Briefings (TABs), the ICC Banking Commission has issued TAB No. 13, “Confirmation
DCW Updates
ICC Releases Draft Opinions Slated for October 2025 Meeting Agenda
Six Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on
DCW Updates
Forged LC Case Underscores Need for Due Diligence
Shockwaves went through the reinsurance industry when reports surfaced in July 2023 that employees of the Israeli insurtech Vesttoo Ltd.
DCW Updates
Judgments Issued in Massive Fraudulent Nickel-Trading Scheme
In two judgments issued concurrently on 29 July 2025, the High Court of Singapore has ordered nine former employees of
DCW Updates
Sri Lanka Customs Action Leads to Vehicles Sitting Idle at Port
Sri Lanka’s vehicle imports are typically backed by cross-border letters of credit which has been the industry norm for
DCW Updates
ICC Banking Commission Conducts Strategic Meeting
ICC Banking Commission meets in Singapore to discuss UCP revision, Basel III advocacy, ICC Trade Register expansion, and digital trade finance.
DCW Updates
Singapore Court Affirms Judgment in Misdelivery Case
Further to a case previously analyzed in DCW, a Singapore Court of Appeal has affirmed the decision in The “Maersk
DCW Articles
DCW Articles
The UK’s New “Failure to Prevent Fraud” Law
The UK "Failure to Prevent Fraud" law presents challenges for global banks operating in the UK. Read how the law applies, and generally what banks should be doing to comply.
DCW Articles
Canadian Supreme Court Confirms Bank Must Refuse LC Payment Due to Fraud
In Eurobank Ergasias S.A. v. Bombardier Inc., the Supreme Court of Canada takes up the fraud exception and whether it applies regarding a demand for payment under a Counter Guarantee.
DCW Articles
A Critical Review of ICC Opinion TA.948
Since a draft was included in the presentation at issue in ICC Opinion TA.948, it prompts important questions about examination not only under UCP but also under bills of exchange law.
DCW Articles
How Secure is Your Security?
A recent Singapore case highlights the potential inherent risks for banks that take credit insurance policies as security.
DCW Updates
DCW Updates
DCW Monthly: September 2025
From London to New Delhi to New York, this issue brings together the latest laws, rulings, and rule-set debates in
DCW Updates
Latest TABs Address Confirmation, Procedure for Payment under UCP600
In the latest rollout of its Technical Advisory Briefings (TABs), the ICC Banking Commission has issued TAB No. 13, “Confirmation
DCW Updates
ICC Releases Draft Opinions Slated for October 2025 Meeting Agenda
Six Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on
DCW Updates
Forged LC Case Underscores Need for Due Diligence
Shockwaves went through the reinsurance industry when reports surfaced in July 2023 that employees of the Israeli insurtech Vesttoo Ltd.
DCW LC Statistics
DCW LC Statistics
LC Statistics: 2Q25 US Bank LC Issuance
DCW delivers quarterly LC issuance statistics from the top 600 US-based banks. Here’s the latest data for 2Q 2025.
DCW LC Statistics
LC Statistics: 3Q24 US Bank LC Issuance
DCW delivers quarterly LC issuance statistics from the top 600 US-based banks. Here’s the latest data for 3Q 2024.
DCW Feature
LC Statistics: 2Q24 US Bank LC Issuance
DCW delivers quarterly LC issuance statistics from the top 600 US-based banks. Here’s the latest data for Q2 2024.
DCW Feature
LC Statistics: 1Q24 US Bank LC Issuance
DCW reports quarterly LC issuance statistics from the top 600 banks headquartered in the U.S.
DCW Scam Survey
DCW Scam Survey
Man Extradited to US to Face Host of Fraud Charges
A Nigerian man believed to have conspired with others to pursue fraudulent tax return refunds of at least USD 8.
DCW Scam Survey
Zimbabwe Businessman Loses Funds in Standby LC Investment Scheme
Although not near as commonplace as in the 1990s, standby letters of credit are still being pitched as investment instruments.
DCW Scam Survey
Securities Commission Issues Order against Operator of Ponzi-like Scheme
In its Decision, Re Cawaling (2025 ABASC 96), the Alberta (Canada) Securities Commission (ASC) has permanently banned a Calgary resident
DCW Scam Survey
Chief Compliance Officer of Fake Bank Pleads Guilty
A 75-year old disbarred attorney and convicted felon from California pleaded guilty in a New York federal court on 10
DCW Litigation Digest
DCW Litigation Digest
Saris v. Flagstar Bank
Plaintiff asserted a claim under Massachusetts’ adoption of UCC Article 5-109 (Fraud and Forgery).
DCW Litigation Digest
Richardson v. Prisoner Transport Services of America
Did the standby LC provide sufficient protection to the judgment creditor?
DCW Litigation Digest
Newman v. HSBC Bank USA, N.A.
Years after Lessees attempted to cancel LC, they sued Successor Bank for conversion, breach of contract, unjust enrichment, and damages.
DCW Litigation Digest
Majestic Rayon Corp. v. Soho Office Suites, LLC
Landlord sued Lessee for use and occupancy of commercial lease.
DCW Conference Report
DCW Conference Report
2025 Singapore Guarantee & Standby Forum: Executive Summary
For the 18th consecutive year, IIBLP conducted its Guarantee & Standby Forum for the Singapore trade finance market. Held on 19 May 2025 and hosted by S&P Global, the program was organized as a hybrid event. This Executive Summary provides an overview of topics discussed and debated.
DCW Conference Report
2025 Americas TF Compliance Annual Meeting: Executive Summary
For the 7th year, the Institute of International Banking Law & Practice conducted its one-day Americas Trade Finance Compliance Annual Meeting. This summary provides an overview of topics discussed at the conference hosted by S&P Global on 2 April 2025 in New York and conducted as a hybrid event.
DCW Conference Report
February 2025 ICC Banking Commission Meeting: Executive Summary
The ICC Banking Commission returned to Dubai, UAE, for its 2025 Annual Meeting on 17 February. The one-day event was organized by ICC UAE and hosted by Dubai Chambers. In addition to those participating in-person, others attended virtually.
DCW Conference Report
November 2024 ICC Banking Commission Meeting: Executive Summary
The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.