The Hidden Risks of Varying a Confirmation's Terms
Exactly what is an issuing bank authorizing or requesting a nominated bank to do when it requests the bank to “add its confirmation” to a credit? Several considerations and questions should be weighed by a would-be confirmer.
A Corporate View of Trade Finance: Structuring Guarantees and Standbys at the Bid Stage
In project-driven industries, guarantees and standby letters of credit shape bids and contract negotiations early. Nadia Khirddine of AtkinsRéalis offers a corporate perspective on structuring these instruments and working effectively with banks.
Why We Need UCP Revision and More Purposeful Education
Although ICC has opted not to pursue UCP revision at this time, trade finance consultant Miguel Bustamante explains why he believes both revision and education are needed and are not mutually exclusive.
Latest
DCW Monthly: April 2026
The ICC Banking Commission decided not to revise UCP 600 or ISBP 821. The argument: the rules are fine, what&
Diverse Views Define UCP Revision Voting
There will be no revision of the UCP 600 rules undertaken by the ICC Banking Commission at this time. Additionally,
ICC Unveils Two-Year UCP, ISBP Action Plan
Billed as a deliberate shift from rule revision to rule optimisation, the ICC Banking Commission’s 2026-2027 Action Plan – UCP/
SWIFT Message Reference Guide Cited in NY Case
A recent decision issued by a New York court demonstrates the importance of proper understanding and use of the SWIFT
UK Supreme Court Decides for UniCredit in Sanctions Case
The United Kingdom’s Supreme Court decision in UniCredit Bank GmbH v. Celestial Aviation Services Ltd.[[1]] was issued 25
Court Denies CCBC’s Motion, NY Discovery Applies
In White Rock Insurance (SAC) Ltd. v. China Construction Bank Corp., the New York State Supreme Court denied China Construction
Force Majeure Defenses against a Beneficiary’s Demand under an Independent Guarantee
Judges at three court levels in China erred in deciding on the force majeure defense invoked by an applicant as the basis for an issuing bank’s filing for an injunction. Saibo Jin explains the case and its broader implications.
DCW Articles
Force Majeure Defenses against a Beneficiary’s Demand under an Independent Guarantee
Judges at three court levels in China erred in deciding on the force majeure defense invoked by an applicant as the basis for an issuing bank’s filing for an injunction. Saibo Jin explains the case and its broader implications.
Letters of Credit
In the latest installment of this annual survey article series, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2024.
Not So Evergreen: Court Limits Duration of Auto-Extension Clause in Letter of Credit
Paul Roder examines why the Court decision in Starr Indemnity is troubling both in its interpretation of the auto-extension clause and the practical effect it may have on the industry.
The Future of Advanced Technology and Generative AI in Trade Finance Operations
While adoption of Gen AI in trade finance operations is still taking root, its impact and utility will depend on adept human-led implementation.
DCW Updates
Diverse Views Define UCP Revision Voting
There will be no revision of the UCP 600 rules undertaken by the ICC Banking Commission at this time. Additionally,
ICC Unveils Two-Year UCP, ISBP Action Plan
Billed as a deliberate shift from rule revision to rule optimisation, the ICC Banking Commission’s 2026-2027 Action Plan – UCP/
SWIFT Message Reference Guide Cited in NY Case
A recent decision issued by a New York court demonstrates the importance of proper understanding and use of the SWIFT
UK Supreme Court Decides for UniCredit in Sanctions Case
The United Kingdom’s Supreme Court decision in UniCredit Bank GmbH v. Celestial Aviation Services Ltd.[[1]] was issued 25
DCW LC Statistics
LC Statistics: 4Q25 US Bank LC Issuance
DCW reports quarterly LC issuance statistics for the top 600 banks headquartered in the US. Numbers are in USD 1,
Trade Finance Activity of the Top 50 U.S. LC Banks
DCW is beginning a series of visualizations drawn from our long-running U.S. LC statistics dataset. This first chart maps
Upgraded DCW LC Statistics + Introducing DCW Data Lab
DCW’s LC Issuance Statistics for U.S. banks have an upgrade and a new look. The updated statistics now
DCW Profiles
An Optimistic Outlook Goes a Long Way
Career Spotlights: Michael Evan Avidon How do seasoned trade finance professionals get to where they are? In this Spotlight, we
Challenges Abound in Legal Realm of Trade Finance
A Conversation with Christine C. Sullivan In our interview series spotlighting the talented people in trade finance, we speak with
The Exciting World of Trade Finance
In our interview series spotlighting the talented people in trade finance, we speak with Maria P. Jordan who's a firm believer there’s plenty to be excited about – even for Gen Zers – in the constantly evolving field of trade finance.
An Evolving Industry Demands More
As a senior trade services specialist, Zahoor Dattu still applies a healthy dose of professional skepticism to his technical expertise in confronting industry challenges.
DCW Litigation Digest
Ningbo Nanheng Import & Export Co., Ltd v. Shinhan Bank Corp. [2021]
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.
Petefish Skiles & Co v. Meads-Maes USA Chiren Joint Venture Company [2025]
Case raises important questions and concerns about a URDG guarantee issuer’s obligations and distinguishing an independent bank guarantee from an escrow account arrangement.
Luoyang Aviation Construction Co. v. Korea Kookmin Bank [2023]
Case heard by China's Supreme People’s Court deals with questions regarding alleged fraud and the nature of a transferable credit under UCP600 Article 38.
ANZ Bank, Manila Branch v. China National Electric Engineering Co., Ltd. & Bank of Jiangsu [2024]
Retrial application dismissed in case involving a dispute over alleged fraud and application the PRC Independent Guarantee Provisions to a standby LC governed by ISP98.