This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
Explore ISP98 Rule 4.18 on negotiable documents, addressing endorsement, presentation, and transfer in standbys, with analysis and insights.
DCW Editorial Note: This previously unpublished material reflects the thinking and writing of Professor James E. Byrne over the period
ISP98 Rule 3.07: Separateness of Each Presentation
Looking back at Professor James E. Byrne's 6 predictions for LCs in 2012 - see how they hold up.
Unpublished work by Prof. Byrne examines ISP98 Rule 1.04's impact and particular rules, crucial for standby agreement stakeholders.
ISP98 Rule 1.02: Relationship to Law and Other Rules
The definition of “Banking Day” in UCP600 Article 2 ¶ 3 requires interested and affected parties to look outside the terms of the UCP to determine what days are actually banking days.
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 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 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.
ISP98 Model Form 4 is a template for a Standby Letter of Credit (SBLC) providing for Transfer and incorporating a template of a Transfer Demand.
ISP98 Model Form 5 is a template for a simple Demand Only Standby Letter of Credit (SBLC).
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