September Roundup

September's DCW is live! We have an exciting fresh batch of content that's just launched. Scroll down to see the full content breakdown, which includes:

• Six Featured Articles
• Eight Updates
• Two new LC Court Case write-ups
• The LC Scam Survey

Are you not a subscriber? Get started here: https://www.doccredit.world/membership/

Let's dig in:

But first, one last plug: Don't miss IIBLP's annual New York events - the Standby & Guarantee Forum + LC Law Summit! In person and Online participation available.

The Articles

Analysis and Insights on ISP98 Rule 2.07

Rule 2.07 deals with routing amendments, cancellations, and notices of non-extension between issuers and nominated banks. Rule 2.07(a) requires that the issuer follow the routing used to advise a standby in advising a proposed amendment...
by: James E. Byrne

Trade Finance Magic

Balancing wonder with accessibility is vital for innovation and ethical use of trade tech, especially as advancements transform trade finance, making it more efficient and secure.
by: Dave Meynell

Navigating turbulent waters: The Red Sea crisis and its impact on the fight against financial crime

Houthi attacks in the Red Sea have led to major disruptions in global trade routes. With increased criminal activity and reduced visibility, banks are under increased pressure to meet sanctions and counter terrorism requirements.
by: Claire Franklin & Isabel Baldock

Bangladesh: Then, Now, and the Impact on International Trade

Letters of credit represent the bulk of trade services offered by banks in Bangladesh and the country’s tense governmental transition has been closely watched by the industry. In this article, Bangladesh's political and economic challenges and their impact on trade are considered.
by: ATM Nesarul Hoque

eDocuments: how harmonization is driving adoption

Argentine lawyer Jorge Riva highlights how ICC rules are already providing an adequate environment for accommodating electronic means and how intense work continues for expanded use of electronic credits.eDocuments: how harmonization is driving adoption.
by: Jorge Riva

Confirmation Concerns and Considerations Arising from Strange LC Requirements

When issuing banks insert complex reimbursement terms and self-serving conditions into their credits, it distorts the purpose of the product, causes problems for confirming banks, and drives exporters away from using LCs.
by: Zahoor Dattu

Updates

• LC & Guarantee Issuance: Under or Out of Control?
• ICC Defines Trade Finance
• 100% Electronic B/Ls by 2030: The Numbers Behind the Number
• Bank of England Breaks with Basel, keeps 20% CCF for Trade Instruments
• Righting an Irregular Presentation … with a Twist
• Pakistan Looks to Deepen Trade & Energy Ties with Russia
• Ethiopian Importers Harmed by Country’s Abrupt Foreign Exchange Reforms
• Saudi IT Firm Secures Financing Facility from Riyad Bank

Litigation Digest

Experior Global Warehousing, LLC v. BTC III Hamilton DC LLC [2024]

Applicant motioned for preliminary injunction following failed mediation.

Banque De Commerce Et De Placements S.A. v. China Aviation Oil (Singapore) Corp. [2024]

Issuer sued beneficiary alleging sham transaction and breach of warranties; beneficiary and prior sellers lodged indemnification claims.

LC Scam Survey

• SEC Charges Duo for Their Roles in Prime Bank Program
• Bangladesh Investigators: Insurer Embezzled Funds Linked to 25 LCs\
• Indian Firm Using LCs, Accused of Cheating Bank