The trade world was saddened by the news of the loss of one of our own: Jim Barnes. Below are tributes from our global community. Submit your own tribute via email here.
Michael Byrne
I received the very sad news just as I was posting an item he contributed to back in 2022 into DCW. Dave Meynell had reached out about a query the ICC received on ISP98, and of course, we asked Jim to review and help us answer. After posting, I checked my email and got the bad news.
Jim Barnes passed away on November 1, 2025. Jim was a remarkable man: principled, generous, brilliant, and, alongside my dad, one of the true architects of the modern law and practice of letters of credit and independent undertakings. His influence on our field is immeasurable.
Jim began his career at Baker McKenzie in 1966 after graduating from the University of Michigan Law School. He became a Principal in 1973 and retired in 2022, though retirement was never really in his vocabulary. He remained deeply involved as Senior Counsel until 2022, and I understand he still went into the Chicago office from time to time earlier this year. His dedication to his craft — and to the people in it — simply never wavered.
His professional legacy is extraordinary. Jim played a central role in drafting and shaping UCP 400, UCP 500, UCP 600, the UN Convention on Independent Guarantees and Standby LCs, ISP98, and UCC Article 5, as well as key provisions across the broader UCC. He served as counsel or advisor to countless companies, banks, and firms, and was a trusted collaborator and cherished friend of IIBLP and the global LC community for decades.
And yet, those of us who knew him know that Jim’s impact went far beyond the documents and rules he helped create. He was unfailingly kind, endlessly curious, and always willing to take a call, offer guidance, or share a story. The “Jim and Jim” stories — which came up again at our recent Standby Forum — remain some of the best reminders of the humor, humanity, and sheer joy that he and my father brought to this work. The mark those two left on the industry, and on so many of us personally, is impossible to replicate.
Michael is the CEO of IIBLP and the Publisher of DCW. Michael has over 25 years of professional experience including 15 in trade finance and compliance, and has written and spoken extensively.
