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
Why We Need UCP Revision and More Purposeful Education
Although ICC has opted not to pursue UCP revision at this time, trade finance consultant Miguel Bustamante explains why he believes both revision and education are needed and are not mutually exclusive.
7 min read
In my opinion, LC users certainly find it easier to read UCP and ISBP than to keep track of the analysis and conclusions contained in ICC Opinions and Briefings. As of March 2026, the ICC Banking Commission has published approximately 276 Official Opinions dealing with UCP 600 matters and the ICC Technical Advisory Group (TAG) has produced 15 Briefings. Therefore, this is one of the reasons why I believe it is necessary to update the rules and practices on documentary credits.
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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’
