DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
This month, we sort through some of the big questions shaping LC practice today. Is it time to rewrite UCP
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
The 2-in-1 Standby: a Bid Standby that converts into a longer- term Performance Standby if certain conditions are met.
UK Electronic Trade Documents Act 2023 marks a sea change in trade finance industry. At its core, the Act does something incredibly simple: it provides legal status to electronic trade documents, making them equivalent to their paper counterparts
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 663 Type of Lawsuit: Beneficiaries sued Confirming Bank that
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
UCP600 interpretation challenges arise as banks often misconstrue article purposes. Beneficiaries risk losing payment guarantees due to misinterpretation during credit-complying presentations
Within the recent past, trade finance banks have suffered billions in losses due to fraud. This has obliged many banks to reconsider their role in financing trade flows whilst others have simply abandoned the business. Citing Glencore, Navig8 Armetrine, and Hin Leong
ChatGPT and human oversight for drafting and reviewing LC transactions in the AI age.
Examining "Green Guarantees": investigating their essence, providers, viability, and the involvement of Corporates and Financial Institutions.
A look into application of US UCC Article 5 for letter of credits outside of the United States
This paper explores vessel risk based upon whether Group Ownership information is known or unknown for each vessel alongside identified compliance behavior.
Amr KAMAL explores integrating ICC's URDG758 into Egypt's commercial law for demand guarantees, emphasizing the advanced nature of Egyptian law in recognizing demand and suretyship guarantees, drawing comparisons with global practices.
Pavel Andrle's exploration of the originality of paper and electronic documents - Part 3 of a three part series.
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