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.
Saskia Rietbroek (CSS), is the Executive Director and Co-Founder of the Association of Certified Sanctions Specialists (ACSS), an association for sanctions professionals.
Practical challenges and recommendations for financial institutions regarding the monitoring of AIS outages and suspicious vessel activity
EXECUTIVE SUMMARY
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A conviction by a Danish court for violating EU sanctions against Syria has underscored the knowledge governments expect of companies of the end destination of their products.
