DCW Monthly: May 2026
It's been just under two months since the ICC Banking Commission voted against revising UCP 600, but the
DCW Articles
It is Good to be Reminded of What You Already Know
How banks unnecessarily complicate the LC process and why a simple standby LC often is the optimal trade risk solution for trade partners.
3 min read
I read with great interest the DCW March 2021 edition which reported on the meeting of the BAFT West Coast LC Committee held the same month, where Mr. Buddy Baker was the guest speaker (“Making the Case for Simplified LCs”, Mar. 2021 DCW 3; see also “The Problem is Not with the UCP, It’s with the LCs”, by Buddy Baker, Sept. 2019 DCW 22).
Like many commentators before him, Baker articulated why the commercial LC process has gotten overly complex.
Read next
DCW Articles
The Case against UCP 600 Revision and for Education
Following the majority vote against UCP revision by ICC National Committees, Dave Meynell offers evidence suggesting education and guidance is the prudent way forward.
DCW Articles
Price Verification: Doing More While Preserving the Independence Principle
For LC bankers to meet the challenge of price verification while upholding the independence principle, there's no substitute for exemplary knowledge of customers and their businesses.
DCW Articles
Sustainable Finance: The Evolving Role of Banks in Trade Finance
Traditional financial metrics alone are no longer sufficient to support decision-making. Banks are now expected to consider sustainability risks, including environmental impact, supply chain practices, and governance standards. Doaa El Atawy explores the evolving role and where banks are headed.
DCW Updates
SWIFT Message Reference Guide Cited in NY Case
A recent decision issued by a New York court demonstrates the importance of proper understanding and use of the SWIFT