DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
This month, we're spotlighting the challenges and hard-earned lessons emerging from LC disputes and sanctions enforcement crackdowns. Carter
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
Recent court cases in Singapore have shone a spotlight on the serious perils of relying on a letter of indemnity (LOI) in lieu of presentation of shipping documents.
Beneficiary Lodged Creditor's petition against insolvent Non-Bank Issuer alleging wrongful dishonour.
In a complex legal saga involving the purchase of light naphtha, a letter of credit mishap, and a cargo delivery dispute, the High Court of Singapore explores issues of contractual breach, the lawful holder status of bills of lading, and the application of English and Singapore law.
OCBC sues STI Orchard and Winson Oil over losses in a deal with Hin Leong Trading involving 780,000 barrels of gasoil, leading to fraud-related losses. The transaction aimed at selling 36,000 mt of gasoline to PT Pertamina after blending.
Those who forget the lessons of history are condemned to repeat them. Trade finance frauds are no exception. Lessons from Solo Industries, Credit Agricole v. PPT, and practical advice for trade financiers.
In The “STI Orchard”, an in rem admiralty action, the High Court of Singapore denied a financing bank’s motion
![Crédit Agricole Corp. & Inv. Bank, Singapore Branch v. PPT Energy Trading Co. [2022]](/content/images/size/w30/wordpress/2022/03/Credit-agricole-v-PPT-energy-DCW.jpeg)
In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
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