Standby LCs: A Reliable Tool in International Trade
Low default rates, increased flexibility, technological advancements and evolving regulations make standby letters of credit (SBLCs) an appealing option in international trade
Questions and Observations on the Shinetec Case
A dispute involving an ISP98 standby and litigation in two jurisdictions raises a host of considerations. Here, Carter Klein comments on five facets of the Shinetec (Australia) Pty Ltd. v. The Gosford Pty Ltd Australian appellate court decision.
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.
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In Memoriam: Francisco Rodriguez
Francisco Rodriguez, a talented and dedicated trade finance specialist, passed away on 17 December 2024. He was 70 years of
Air Waybills and Questions of Endorsement
A letter of credit scenario was discussed during a recent meeting of bankers involving a commercial LC calling for “Original
UNCITRAL’s Draft Convention on Negotiable Cargo Documents Entering Final Phase
Working Group VI of the United Nations Commission on International Trade Law (UNCITRAL) held its 45th session, 9-13 December 2024,
ABA and BAFT Announce Split
The American Bankers Association (ABA) and The Bankers Association for Finance and Trade (BAFT), a prominent global association for international
DCW Articles
Shining Light on the Fading Concept of Strict Compliance
In the third instalment of his DCW article series on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell confronts continuing misplaced reliance on strict compliance.
Receiving Direct Presentation from a Second Beneficiary: What’s an Issuing Bank to Do?
How are LC specialists to understand UCP600 Article 38(k) in situations where a second beneficiary bypasses the transferring bank and presents documents directly to the issuing bank? Scenarios, fundamental issues, and a proposal for revising this UCP sub-article are addressed here.
Hard Cases – Taking Stock of How Trader Defaults and Geopolitical Events Shaped LC Court Decisions in 2024
In the first of a two-part article, Robert Parson looks back at major LC court cases of 2024 and their impact on an increasingly complex environment for trade finance.
SBP Vision 2028 and Pakistan’s Transformation to a Shariah-Compliant Banking System
Pakistan has embarked on an ambitious multi-year plan to transform its financial system into a Shariah-compliant framework by 2028. Two trade finance specialists explain what this entails and the inherent challenges and opportunities it presents.
DCW Updates
In Memoriam: Francisco Rodriguez
Francisco Rodriguez, a talented and dedicated trade finance specialist, passed away on 17 December 2024. He was 70 years of
Air Waybills and Questions of Endorsement
A letter of credit scenario was discussed during a recent meeting of bankers involving a commercial LC calling for “Original
DCW Litigation Digest
Consolidated Electrical Distributors, Inc. v. United Renewable Energy Co. [2024]
Applicant Consolidated Electrical Distributors ex parte motion for temporary restraining order against issuer Bank of America.
Shinetec (Australia) Pty Ltd. v. The Gosford Pty Ltd. [2024]
Contractor Shinetec (Australia) and parent company Shanxi Construction Investment Group (standby applicant) appealed dismissal of claims against beneficiary The Gosford.
Front Row Motorsports, Inc. v. DiSeveria [2024]
Approving letter of credit to serve as supersedeas.
Australia and New Zealand Banking Group Ltd. Manila Branch v. China National Electric Engineering Co., Ltd. & Bank of Jiangsu [2023]
Disputes over Independent Guarantee Fraud, Independent Guarantee Payment, and Improper Dishonor
DCW Conference Report
2024 Americas LC Law Summit: Executive Summary
For the 25th consecutive year, the Institute of International Banking Law & Practice conducted its one-day Letter of Credit Law Summit. This Executive Summary provides an overview of topics discussed and debated at the conference hosted by Hogan Lovells in New York and conducted as a hybrid event.
2024 ABA/ABA Financial Crimes Enforcement Conference: Executive Summary
Conducted by the American Bar Association and the American Bankers Association (ABA), the 36th annual ABA/ABA Financial Crimes Enforcement Conference took place 8-9 October 2024 in Arlington, Virginia.
2024 Singapore Annual LC Survey • Executive Summary
This Executive Summary provides an overview of topics discussed and debated by leading professionals at the conference.
DCW LC Statistics
LC Statistics: 2nd Quarter 2023 US Banks
A detailed review and analysis of the letter of credit issuance statistics from US Banks for the 2nd Quarter of 2023.
DCW Scam Survey
Indian Importer, Officials Booked for Cheating Tied to LC
A Chennai-based importer, its director, and six former officials of a company operating under the Indian government’s Ministry of
Pakistani Businessman Charged with Export, Banking Fraud
After receiving dozens of containers filled with soil, gravel and stones instead of the valuable natural minerals it had agreed
Hin Leong Founder O.K. Lim Sentenced to 17½ Years
Following his May 2024 conviction on two cheating charges and one count of instigating forgery for the purpose of cheating,
Court Sentences Five in 30- Year-Old LC Scam Case
The Court of the Special Judge, Central Bureau of Investigation (CBI) in Guwahati, India, has fined and sentenced five individuals