Christopher Byrnes

LC Community Pays Tribute to Hugo Verschoren (1956-2022)

The Trade Finance community has lost not only a great expert, but also a warm personality. Hugo Verschoren started his

LC Legend Jim Barnes Retires

Following a career of more than 50 years as a lawyer, including more than three decades concentrating on letters of

MT799 Misuse Diminishing, but Still Occurs

Very few banks will now issue an LC using the SWIFT MT799 format as most banks, especially in Europe, will

ICC Draft Opinions Released for January 2023 Discussion

Three Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on

Successor by Operation of Law and Amendments

In a recent discussion, standby specialists took up the matter of a US issuer of a non-transferable standby being presented

ICC Briefing Addresses Practice of Modifying and Excluding UCP600 Articles

The ICC Banking Commission addresses the subject of “Modifications and Exclusions under Documentary Credits subject to UCP 600” in Technical

Pakistan: No Restrictions on LCs

Citing media misinformation intended to create uncertainty in the oil and gas market, the State Bank of Pakistan (SBP) issued

US Commerce’s BIS Adjusts Its AntiBoycott Rules Enforcement

The Bureau of Industry and Security (BIS), a division within the US Department of Commerce, announced it is updating its

ESG and the TF Gap: The Mutual Expansion Concern

Standbys without Expiration Dates

What can you, as a US bank, do when a customer tells you that they need you to issue a

Egypt to Phase Out Mandatory LCs for Imports

The Central Bank of Egypt announced in a statement released on 27 October 2022 that it will begin a process