LCs That Contain a Law and Jurisdiction Clause

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.

DCW Conference Report

January 2022 ABA/ABA Financial Crimes Enforcement Conference: Executive Summary

The American Bar Association and the American Bankers Association (ABA) jointly hosted their 33rd Financial Crimes Enforcement Conference as a virtual event, 11-13 January 2022.