DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
October 2026
Standby Letter of Credit Automation: Why It Matters
Standby LC portfolios often rest on processes that work until a single point of failure is tested. Here, Nick Mayer, President of Cibar, explains why banks are rethinking how renewals, fees and compliance checks are handled, and where automation strengthens control rather than replacing judgement.
DCW Articles
Inbound vs. Outbound Guarantees: How Corporates Can Manage Risk and Working Capital Effectively
Corporate treasury teams can attain efficiency advantages and mitigate risk by elevating their level of oversight and control of guarantees and standbys for which they are beneficiary. Alexander Paetzold of Trade Technologies explains how.
DCW Articles
The Skills Cliff, Part 3: Return of the Trade Finance Jedi
Welcome to Part 3 of the Trade Finance Skills Cliff series. If you haven’t read Part 1 and Part
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DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
DCW Updates
ICC Digital Standards Initiative Announces Refresh
Grappling with a high degree of concern over increasing fragmentation across the digital trade landscape, the ICC Digital Standards Initiative
DCW Updates
ICC Releases Draft Opinions for November 2026 Technical Session
Four draft opinions, two of which dealing with insurance documents and war risk exclusion wording, will be discussed in the
DCW Updates
Court Rules on Disputed “Payment from Applicant” Condition in Weifang v. Euro Exim
The ruling in Weifang JS Trading Co. v. Euro Exim Bank centered on treatment of the Field 47A payment term
DCW Updates
Lloyds Issues, Commerzbank Completes eUCP LC
Commerzbank has announced completion of its first letter of credit involving electronic presentation of digital documents.
DCW Updates
US Treasury Imposes Record Penalties against Bank of America
On 13 October 2026, the US Department of the Treasury announced that three of its agencies have imposed enforcement actions,
DCW Updates
Guidance Paper for Identifying Red Flags Updated
Updating its guidance paper of 2015 which listed 16 “red flag” indicators of suspicious activity in letters of credit and
DCW Profiles
A Lifetime of Learning Fosters Correct Decision-Making
Trade Finance Career Spotlights: Glenn Ransier Glenn Ransier has spent a career riding trade finance's highs and lows,
DCW Articles
DCW Articles
Analysis and Insights on ISP98 Rule 1.09(c): Electronic Presentations and "Electronic Record" Definition
Unpublished work by Prof. Byrne examines the first of four terms contained in ISP98 Rule 1.09(c) that provide terminology for use in standbys that permit or require presentation by non-paper means.
October 2026
In Memoriam: Boris Kozolchyk
The trade finance world was saddened by the news of the loss of one of our own: Boris Kozolchyk. Below
DCW Articles
Recent Challenges to the Independence Principle in the Courts
An LC's independence from the underlying transaction it supports is one of the core tenets that distinguishes this instrument type from other promises. When disputes arise, courts at times have given uneven treatment to independent undertakings with regard to the independence principle.
DCW Articles
Can Remitters Recover from Beneficiary Banks in Email Hacking Cases?
In the past, the answer would be no. Chang-Soon Thomas Song, Attorney at KEB Hana Bank, explains what changed and one case where a remitter was able to recover from the beneficiary’s bank.
DCW Updates
DCW Updates
ICC Digital Standards Initiative Announces Refresh
Grappling with a high degree of concern over increasing fragmentation across the digital trade landscape, the ICC Digital Standards Initiative
DCW Updates
ICC Releases Draft Opinions for November 2026 Technical Session
Four draft opinions, two of which dealing with insurance documents and war risk exclusion wording, will be discussed in the
DCW Updates
Court Rules on Disputed “Payment from Applicant” Condition in Weifang v. Euro Exim
The ruling in Weifang JS Trading Co. v. Euro Exim Bank centered on treatment of the Field 47A payment term
DCW Updates
Lloyds Issues, Commerzbank Completes eUCP LC
Commerzbank has announced completion of its first letter of credit involving electronic presentation of digital documents.
DCW Litigation Digest
DCW Litigation Digest
Moeve Trading SAU v. Mael Trading FZ LLC
In case where Seller pursued claim for purchase price, court determined LCs were conditional, not absolute, forms of payment.
DCW Litigation Digest
Universal Property Services, Inc. v. Lehigh Gas Wholesale Services, Inc.
Case involved LCs containing a condition that Issuing Bank would only honor demands if Applicant first furnished indemnification to Issuing Bank.
DCW Litigation Digest
Evergrowing Bank Co., Ltd. v. Sambu Shipping Co., Ltd.
Case from China's Jiangsu High People’s Court involving issuing bank suing carrier for compensation for carrier’s release of cargo against applicant’s letter of indemnity in lieu of original bill of lading contains important lessons for banks.
DCW Litigation Digest
Ningbo Nanheng Import & Export Co., Ltd v. Shinhan Bank Corp. [2021]
The legal consequences of backdating paper bills of lading under letters of credit and use of surrendered bills of lading emerge from the China case, Ningbo Nanheng Import and Export Co. Ltd. v. Shinhan Bank Co.
DCW Profiles
DCW Profiles
A Lifetime of Learning Fosters Correct Decision-Making
Trade Finance Career Spotlights: Glenn Ransier Glenn Ransier has spent a career riding trade finance's highs and lows,
DCW Profiles
The Recipe for Trade Finance Success
A Conversation with Cherine Kenawy Drawn to trade finance by its complexities and interconnectedness, Cherine Kenawy, Executive Director of Trade
DCW Profiles
The Enduring Relevance of Trade Finance
Trade Finance Career Spotlights: K. Nizardeen K. Nizardeen has been around the trade finance scene in the Middle East for
DCW Profiles
A Simple Approach to Making International Trade Work
A Conversation with Kristin Kyle-McQuesten “Know Your Customer” isn’t only vital for compliance reasons. Throughout her career, it’
DCW LC Statistics
DCW LC Statistics
LC Statistics: 2Q26 US Bank LC Issuance
DCW reports quarterly LC issuance statistics for the top 600 banks headquartered in the US. Numbers are in USD 1,
DCW LC Statistics
LC Statistics: 1Q26 US Bank LC Issuance
DCW reports quarterly LC issuance statistics for the top 600 banks headquartered in the US. Numbers are in USD 1,
DCW LC Statistics
LC Statistics: 4Q25 US Bank LC Issuance
DCW reports quarterly LC issuance statistics for the top 600 banks headquartered in the US. Numbers are in USD 1,
DCW LC Statistics
Trade Finance Activity of the Top 50 U.S. LC Banks
DCW is beginning a series of visualizations drawn from our long-running U.S. LC statistics dataset. This first chart
ISP98 Model Forms
ISP98 Model Forms
ISP98 Model SBLC Forms
The ISP98 Model Forms are fillable templates written by bankers and lawyers, and are aligned with ISP98 (ICC Publication No. 590), the most widely used rules for standbys.
ISP98 Model Forms
ISP98 Form 1 - Model SBLC with Payment Demand
ISP98 Model Form 1 is a template for a Standby Letter of Credit (SBLC) that also incorporates an annexed Form of Payment Demand with Statement.
ISP98 Model Forms
ISP98 Form 2 - Model SBLC Providing for Extension
ISP98 Model Form 2 is a template for a Standby Letter of Credit (SBLC) providing for extension and incorporating annexed Form of Payment Demand with Alternative Non-Extension Statement.
ISP98 Model Forms
ISP98 Form 3 - Model Standby Providing for Reduction
ISP98 Model Form 3 is a template for a Standby Letter of Credit (SBLC) providing for Reduction and that also incorporates an annexed Form of Reduction Demand.