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.
Nathan Hummel is the Relationship Manager covering Financial Institutions at Allianz Trade in the Americas. He has served as Head of Trade Finance at Capital One and WSFS Bank.
Exploring the steps and considerations for banks to effectively navigate the complexities of true sale unfunded risk participation, identifying product and regulatory nuances, and understanding practical applications through use case scenarios.
