July 2026
DCW Monthly: July 2026
Courts have been circling the same idea since 1765: the bank pays unless there is fraud. What they have never
DCW Conference Report
2023 Americas Annual LC Survey • Executive Summary (Part 2)
This Executive Summary provides an overview of topics discussed and debated by leading professionals at Day 2 of the conference.
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DCW Updates
Unassignable Guarantees & Applicable Law
Banks are often advised by their lawyers to issue a demand guarantee with the condition that it is unassignable and
DCW Articles
International Trade and the Strait of Hormuz: Disruptions, Risks, and Systemic Challenges
International trade depends on two inseparable flows: the movement of goods and the movement of money. When goods stop moving, payments stop moving — and when both stall, global trade seizes up. The near total closure of the Strait of Hormuz has exposed this reality with exceptional clarity.
DCW Articles
Thank heavens: Why banks can keep calm and carry on after Celestial Aviation
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.
DCW Updates
OFAC Issues Advisory on Sham Transactions & Sanctions Evasion
On 31 March 2026, US Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory to alert of sham