This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
Proposed EU Capital Requirements Regulation changes may raise credit conversion factor for standby letters of credit. Limited data suggests low default rates. Banks issue standbys for fees, and despite credit risk, many expire unused.
Use of UCP600 for standbys continues, despite there being better suited rules in ISP98
What can you, as a US bank, do when a customer tells you that they need you to issue a
In Natixis Funding Corp. v. GenOn Mid-Atlantic, the 5th Circuit addresses crucial aspects of letter of credit practice, exploring prepayment, collateralization, structured finance, indemnities, good faith limits, and consequences of drafting errors.
Guarantors Caught Between Home Courts That Do Not Apply the Fraud Exception and Courts in the Counter-Guarantor's Country
Beneficiary sued Issuer for Wrongful Dishonor.
Standby LC Issuer sued Counter Guarantor on Extend or Pay Request.
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.
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