DCW Updates
DCW Monthly: September 2025
From London to New Delhi to New York, this issue brings together the latest laws, rulings, and rule-set debates in
DCW Articles
One Way eUCP’s Aim to Facilitate Electronic Presentation Can Be Advanced
Despite advancements, eUCP has limited use, especially in China. The article discusses the challenges of electronic presentation and underscores the importance of recognizing electronic records on par with paper documents in LC transactions.
10 min read
The Query addressed in ICC Opinion TA.900 (April 2020) involved electronic presentation (e-presentation). With technological development and advancement of electronically-produced documents including SWIFT messages, there are more frequent calls for e- presentation. Trade transactions can be done in paperless fashion on digital platforms by using digitized documents including eB/L. SWIFT is also exploring ways to connect platforms for advancing paperless trade. To advance the digitalization transition of the trade finance industry, ICC has endeavored to drive practice use of eRules that are focused on e-presentation of documents however “the eUCP has largely remained of theoretical value”.[[1]] Chinese banks have greatly advanced digitalization of LC transactions by using digital platforms, such as Bolero and essDOCs, but e-presentation under LCs needs to be developed and the eUCP has not received significant usage in China. As such, greater use of the eUCP should be motivated to enable and facilitate e-presentation. Due to the issues related to the electronic mode of presentation being complex, they deserve careful discussion.
Read next
September 2025
A Comparison of URDG 758 and UN Guarantee Convention
URDG 758 and the UN Guarantee Convention both address independent guarantees and in many respects their content is similar, but differences exist in their areas of focus.
DCW Articles
Delhi High Court Decides for Beneficiary. What Took So Long?
The Indian judicial process can move at a sluggish pace, but the facts of this LC case suggest it should not have lingered. Ashish Madan considers the discrepancies and asks questions if other factors contributed to the delay.
DCW Articles
New York Legislature Passes 2022 UCC Amendments
Enactment of the 2022 Amendments to the Uniform Commercial Code updates New York’s commercial law to fully recognize electronic records. They also affirm that signed electronic letters of credit have the same legal effect as paper-based LCs.
DCW Articles
The UK’s New “Failure to Prevent Fraud” Law
The UK "Failure to Prevent Fraud" law presents challenges for global banks operating in the UK. Read how the law applies, and generally what banks should be doing to comply.
