Standby LCs
ERA Capital L.P. v. Soleil Chartered Bank [2024]
Bench trial for negligent misrepresentation claim by beneficiary against advising bank.
Standby LCs: A Reliable Tool in International Trade
Low default rates, increased flexibility, technological advancements and evolving regulations make standby letters of credit (SBLCs) an appealing option in international trade
Canadian Province Proposes Surety Bonds as Option for Securing Municipal Obligations
In a development related to past reporting of standby and bond usage at the municipal level in Canada, the Canadian
Will A Model SBLC Form Energize eUCP Use?
Energy LEAP, an organization comprised of energy trading, service and association entities, drafted and released wording in April 2023 for
LC Requirements for US Entities Seeking Rural Broadband Support Scrutinized
The US Federal Communications Commission (FCC) which oversees program requirements for entities attempting to secure federal funding support for broadband
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.
English Court Reverses Celestial; UniCredit Right to Refuse Payment
In a high profile case involving standby letters of credit issued in connection with aircraft leases to Russian airlines and
Seeking Best Practice on Tracing Standby LC Detrimental Amendments
In a bankers’ discussion this month, conversation focused heavily on standby LCs, particularly the handling of amendments. One of questions
Achieving True Participation in Unfunded Risk: Standby Letters of Credit
Exploring the steps and considerations for banks to effectively navigate the complexities of true sale unfunded risk participation, identifying product and regulatory nuances, and understanding practical applications through use case scenarios.
Banks Authenticating Beneficiaries’ Drawings: Advantageous or Unnecessary?
Fraud prevention is a crucial pursuit, but is an interim/hybrid solution requiring a beneficiary’s bank to vouch for the beneficiary the answer? Or does it introduce added risks?
ISP98, A Success Story
A member of the ISP drafting group offers perspective on the vision, birth, development, and future of the international rules built 25 years ago for standby LC practice.
