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 Articles
How ISDGP Sees Automatic Extension of Guarantees
Although automatic extension is not addressed in the URDG758 rules, the ISDGP articulated in 2021 contains provisions to help interpret such terms if included in a demand guarantee.
3 min read
Automatic extension clauses in standby letters of credit and demand guarantees have sparked a lot of discussion recently. The case of Starr Indemnity v. Midwest Mortgage decided in New York and analyzed in the March 2026 DCW edition by Paul Roder has caused a stir and therefore it is interesting to consider what ISDGP (International Standard Demand Guarantee Practice) that supplements the URDG758 has to say about automatic extension.
Read next
DCW Articles
Analysis and Insights on ISP98 Rule 1.09(c): Electronic Presentations and "Electronic Record" Definition
Unpublished work by Prof. Byrne examines the first of four terms contained in ISP98 Rule 1.09(c) that provide terminology for use in standbys that permit or require presentation by non-paper means.
October 2026
In Memoriam: Boris Kozolchyk
The trade finance world was saddened by the news of the loss of one of our own: Boris Kozolchyk. Below
DCW Articles
Inbound vs. Outbound Guarantees: How Corporates Can Manage Risk and Working Capital Effectively
Corporate treasury teams can attain efficiency advantages and mitigate risk by elevating their level of oversight and control of guarantees and standbys for which they are beneficiary. Alexander Paetzold of Trade Technologies explains how.
DCW Articles
The Skills Cliff, Part 3: Return of the Trade Finance Jedi
Welcome to Part 3 of the Trade Finance Skills Cliff series. If you haven’t read Part 1 and Part
