July 2026
DCW Monthly: July 2026
Courts have been circling the same idea since 1765: the bank pays unless there is fraud. What they have never
DCW Articles
Canadian Supreme Court Confirms Bank Must Refuse LC Payment Due to Fraud
In Eurobank Ergasias S.A. v. Bombardier Inc., the Supreme Court of Canada takes up the fraud exception and whether it applies regarding a demand for payment under a Counter Guarantee.
4 min read
In Eurobank Ergasias S.A. v. Bombardier Inc. (2024 S.C.C. 11 [Canada]) decided on 5 April 2024, the Supreme Court of Canada addressed the issue of whether a Canadian bank was required to refuse payment to the beneficiary of a letter of credit because of a third party’s fraudulent behaviour, which was attributable to the beneficiary.
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DCW Articles
Letter of Credit Fraud
With regard to how fraud may disturb a bank's obligation to honour under an independent undertaking, courts have used various qualifiers to describe the level necessary. In his expansive article, Dr. Alan Davidson explores the concept of "Letter of Credit Fraud" under law and in the courts.
DCW Articles
Surrendered Bills of Lading – Strange Path to the Right Result
Surrendered bills of lading are not addressed in UCP or ISBP, so ICC was approached to opine on the topic. Kim Sindberg details the initial ask and the guidance ultimately given.
DCW Articles
Over-Insurance: Worthy of Attention, but Not under UCP 600
Over-insurance is not cause for concern under the UCP 600 practice rules, but it may raise unsettling questions that need addressed from a risk perspective.
DCW Profiles
Bringing Passion and Joy to Trade
Trade Finance Career Spotlights: A.T.M. Nesarul Hoque From his early days in banking, A.T.M. Nesarul Hoque’
