Given the success of practice rules and banks’ ability to more readily find resources for the proper interpretation of the rule sets, does it not make sense to avoid inclusion of a governing law or jurisdiction clause?
The recent case of Illinois DNR v. Regions Bank illustrates the importance of clear wording of automatic extension clauses and issuing banks including a final expiration date in their standbys.
Byron McKinney is a director for trade finance and compliance solutions at S&P Global Market Intelligence. He has over 20 years of experience across the commodity and trade finance markets.
This paper explores vessel risk based upon whether Group Ownership information is known or unknown for each vessel alongside identified compliance behavior.
Practical challenges and recommendations for financial institutions regarding the monitoring of AIS outages and suspicious vessel activity
EXECUTIVE SUMMARY
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