DCW Monthly: September 2026
This month's content returns to a question the rules answer clearly and the courts sometimes do not: who
DCW Articles
Trade Finance in Times of Conflict: Key Lessons from the ICC Guidance Document
Recent ICC guidance addresses practical trade finance issues arising from the Middle East conflict. Having a nimble strategic approach for coping with operational risk is paramount for banks.
6 min read
The ongoing conflict in the Middle East has created significant challenges for global trade, supply chains and banking operations. In response, the International Chamber of Commerce (ICC) issued in April 2026 a two-page guidance document, Application of ICC Trade Finance Rules in the Context of the Middle East Conflict, clarifying how existing trade finance rules continue to apply despite disruptions attributed to the conflict.
While the guidance addresses practical issues arising from the conflict, including document delays, force majeure considerations affecting banks, and potential sanctions-related implications, its significance extends beyond the specific circumstances of the region.
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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 Articles
Can Remitters Recover from Beneficiary Banks in Email Hacking Cases?
In the past, the answer would be no. Chang-Soon Thomas Song, Attorney at KEB Hana Bank, explains what changed and one case where a remitter was able to recover from the beneficiary’s bank.
DCW Articles
The Trolley Was Always Moving
Part 2 of a series on the trade finance skills cliff, applying ethics and moral philosophy to trade finance for something hopefully amusing and genuinely informative.
August 2026
DCW Monthly: August 2026
Every industry eventually meets the bill for a problem it saw coming and filed away for later. Michael Byrne, IIBLP&