DCW Monthly: June 2026
A letter of credit is built on a simple promise: the bank pays on a complying demand, and the underlying
11 min read
Read next
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
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.
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.
DCW Updates
Court’s Interpretation of LC as Conditional Form of Payment Benefits Seller
Even if a seller is responsible for an LC issuing bank’s failure or refusal to pay because it did