DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
238 articles
(Page 18)
DCW Updates
Libyan Customs and Bank Officials Detained in LC Fraud Scheme
Seventeen customs officials and nine bank employees have been detained in Libya for their alleged involvement in a LYD 1.2 billion (USD 246 million) letter of credit fraud.
DCW Updates
The Intolerance of a Short Drawing
The question discussed centered on whether document examiners would pickup Short Drawing as a discrepancy since the LC does not permit tolerance in the amount and the amount drawn is less than the total value of the LC.
DCW Updates
New York Court Declines to Dismiss LC Dispute
New York County’s Supreme Court has rejected an Indian issuing bank’s motion to dismiss a complaint regarding an
DCW Updates
How to Determine What Constitutes a Banking Day
The definition of “Banking Day” in UCP600 Article 2 ¶ 3 requires interested and affected parties to look outside the terms of the UCP to determine what days are actually banking days.