Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
Gabriel SHAM is an independent consultant providing training and advice on trade finance matters to banks and corporates. He is a DCW Editorial Advisory Board Member.
Singapore's TradeTrust, developed by IMDA, integrates global standards, UNCITRAL's MLETR, and blockchain, allowing verification of electronically issued documents for global trade.
A Singapore court case highlights critical pitfalls in handling demand guarantees. This article unpacks lessons for bankers on documentation, fraud risk, counter-guarantees, and navigating complex cross-border disputes.
