Christopher Byrnes

Iran, Russia Agree on SWIFT Substitute

With Iranian banks and some Russian banks unable to use SWIFT, the central banks of the two countries signed an

Evaluating Potentially Unusual Vessel Behavior

The Depths of Crypto Mining

Favorable power costs and relatively low land prices are two factors that have attracted cryptocurrency miners to the US state

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

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