Buddy Baker
US UCC Article 5’s Non-Variable Provisions
How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
Dave Meynell Reacts to June 2024 DCW Articles
Various articles from the June 2024 edition of DCW caught the attention of ICC Banking Commission Senior Technical Advisor Dave Meynell who offers the following comments.
When the Beneficiary Bypasses the Nominated Bank
ICC TAB 9 points out that there is a risk of documents being presented to more than one bank at the same time, especially under an LC that is freely negotiable, but it stops short of making any recommendations for avoiding this risk. Here’s my suggestion.
Investigations Expand into Vesttoo LC Fraud Allegations
The US Federal Bureau of Investigation’s (FBI) has reportedly begun its own probe into allegedly fraudulent letters of credit
In Memoriam: Rita Ricci (1959-2023)
The Trade Finance community was deeply saddened at the passing of Rita Ricci on 14 January 2023 after her courageous
A Thanks to Jim Barnes for His Contributions to the LC Community
Let's hear from some of the LC community as they share memories and stories of their time working
Issuing Standbys Allowing for Presentation of Documents by Email
At the IIBLP’s 2022 Annual LC Survey – West conference (18-19 May), delegates were asked about the general frequency in which their bank issues standbys allowing for documents to be presented electronically. Here, Buddy Baker of Goldman Sachs Bank comments on the poll results.
