DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
DCW Feature
Crédit Agricole Corp. & Inv. Bank, Singapore Branch v. PPT Energy Trading Co. [2022]
In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
![Crédit Agricole Corp. & Inv. Bank, Singapore Branch v. PPT Energy Trading Co. [2022]](https://storage.ghost.io/c/6d/b6/6db674cd-2e89-4195-bf79-8273da209ce8/content/images/size/w30/wordpress/2022/03/Credit-agricole-v-PPT-energy-DCW.jpeg)
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DCW Articles
Recent Challenges to the Independence Principle in the Courts
An LC's independence from the underlying transaction it supports is one of the core tenets that distinguishes this instrument type from other promises. When disputes arise, courts at times have given uneven treatment to independent undertakings with regard to the independence principle.
DCW Updates
Sharing the Risk
Banks are increasingly turning to risk-sharing structures to manage regulatory capital, control funding costs, and expand capacity.
DCW Litigation Digest
Moeve Trading SAU v. Mael Trading FZ LLC
In case where Seller pursued claim for purchase price, court determined LCs were conditional, not absolute, forms of payment.
DCW Updates
Reimbursing Bank in NY Not Enough for Jurisdiction, Says Court
In a recent complaint filed in New York, a Singapore trading company has asserted that a Bangladesh bank did not