In a recent complaint filed in New York, a Singapore trading company has asserted that a Bangladesh bank did not
Banks are often advised by their lawyers to issue a demand guarantee with the condition that it is unassignable and
China’s revision of its Maritime Law which took effect 1 May 2026 not only ushered in enhancements of parties’
With regard to how fraud may disturb a bank's obligation to honour under an independent undertaking, courts have used various qualifiers to describe the level necessary. In his expansive article, Dr. Alan Davidson explores the concept of "Letter of Credit Fraud" under law and in the courts.
Surrendered bills of lading are not addressed in UCP or ISBP, so ICC was approached to opine on the topic. Kim Sindberg details the initial ask and the guidance ultimately given.
Over-insurance is not cause for concern under the UCP 600 practice rules, but it may raise unsettling questions that need addressed from a risk perspective.
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In a recent complaint filed in New York, a Singapore trading company has asserted that a Bangladesh bank did not
Banks are often advised by their lawyers to issue a demand guarantee with the condition that it is unassignable and
China’s revision of its Maritime Law which took effect 1 May 2026 not only ushered in enhancements of parties’
The Central Bank of India and India Exim Bank announced on 13 July 2026 that they have formulated a Master
Trade Finance Career Spotlights: Kim Sindberg Kim Sindberg, Expert Product Manager at Nordea in Denmark and an ICC Banking Commission
Trade Finance Career Spotlights: A.T.M. Nesarul Hoque From his early days in banking, A.T.M. Nesarul Hoque’
A Conversation with Abrar Ahmed Currently with the Bank of China, London Branch, experienced industry specialist Abrar Ahmed continues to
A letter of credit is built on a simple promise: the bank pays on a complying demand, and the underlying
Assessing the risk of breaching regulatory and compliance requirements while simultaneously examining for documentary compliance under stringent time pressures has complicated banks’ trade finance operations for years. A UK Supreme Court decision provides a degree of comfort and clarity to banks.
Following the majority vote against UCP revision by ICC National Committees, Dave Meynell offers evidence suggesting education and guidance is the prudent way forward.
For LC bankers to meet the challenge of price verification while upholding the independence principle, there's no substitute for exemplary knowledge of customers and their businesses.
Traditional financial metrics alone are no longer sufficient to support decision-making. Banks are now expected to consider sustainability risks, including environmental impact, supply chain practices, and governance standards. Doaa El Atawy explores the evolving role and where banks are headed.
In a recent complaint filed in New York, a Singapore trading company has asserted that a Bangladesh bank did not
Banks are often advised by their lawyers to issue a demand guarantee with the condition that it is unassignable and
China’s revision of its Maritime Law which took effect 1 May 2026 not only ushered in enhancements of parties’
The Central Bank of India and India Exim Bank announced on 13 July 2026 that they have formulated a Master
Trade Finance Career Spotlights: Kim Sindberg Kim Sindberg, Expert Product Manager at Nordea in Denmark and an ICC Banking Commission
Trade Finance Career Spotlights: A.T.M. Nesarul Hoque From his early days in banking, A.T.M. Nesarul Hoque’
A Conversation with Abrar Ahmed Currently with the Bank of China, London Branch, experienced industry specialist Abrar Ahmed continues to
Trade Finance Career Spotlights: Xiang Gao Curiosity about the multiparty dynamics of a letter of credit arrangement first motivated Xiang
DCW reports quarterly LC issuance statistics for the top 600 banks headquartered in the US. Numbers are in USD 1,
DCW reports quarterly LC issuance statistics for the top 600 banks headquartered in the US. Numbers are in USD 1,
DCW is beginning a series of visualizations drawn from our long-running U.S. LC statistics dataset. This first chart
DCW’s LC Issuance Statistics for U.S. banks have an upgrade and a new look. The updated statistics now
The American Bankers Association’s 37th Financial Crimes Enforcement Conference took place in Arlington, Virginia in October 2025, as banks and regulators grappled with AML reform, rising fraud, stablecoins, and the growing impact of AI on financial crime controls.
For the 26th consecutive year, the IIBLP conducted its one-day Americas Letter of Credit Law Summit. Held in New York City on 5 November 2025 and hosted by Baker McKenzie, the program was organized as a hybrid event. This Executive Summary provides an overview of key topics discussed and debated.
For the 19th consecutive year, IIBLP conducted its Americas Standby & Guarantee Forum. Held in New York City on 4 November 2025 and hosted by Baker McKenzie, the program was organized as a hybrid event. This Executive Summary provides an overview of key topics discussed and debated.
The ICC Banking Commission’s quarterly meeting, held via Zoom on 21 October 2025, discussed six draft opinions, the status of Technical Advisory Briefings, a call for comments on the future of UCP and ISBP, and the emergence of stablecoin as relates to ICC rules and digital trade law.
Case involved LCs containing a condition that Issuing Bank would only honor demands if Applicant first furnished indemnification to Issuing Bank.
Case from China's Jiangsu High People’s Court involving issuing bank suing carrier for compensation for carrier’s release of cargo against applicant’s letter of indemnity in lieu of original bill of lading contains important lessons for banks.
The legal consequences of backdating paper bills of lading under letters of credit and use of surrendered bills of lading emerge from the China case, Ningbo Nanheng Import and Export Co. Ltd. v. Shinhan Bank Co.
Case raises important questions and concerns about a URDG guarantee issuer’s obligations and distinguishing an independent bank guarantee from an escrow account arrangement.
The ISP98 Model Forms are fillable templates written by bankers and lawyers, and are aligned with ISP98 (ICC Publication No. 590), the most widely used rules for standbys.
ISP98 Model Form 1 is a template for a Standby Letter of Credit (SBLC) that also incorporates an annexed Form of Payment Demand with Statement.
ISP98 Model Form 2 is a template for a Standby Letter of Credit (SBLC) providing for extension and incorporating annexed Form of Payment Demand with Alternative Non-Extension Statement.
ISP98 Model Form 3 is a template for a Standby Letter of Credit (SBLC) providing for Reduction and that also incorporates an annexed Form of Reduction Demand.
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