DCW Monthly: June 2026
A letter of credit is built on a simple promise: the bank pays on a complying demand, and the underlying
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DCW Articles
International Trade and the Strait of Hormuz: Disruptions, Risks, and Systemic Challenges
International trade depends on two inseparable flows: the movement of goods and the movement of money. When goods stop moving, payments stop moving — and when both stall, global trade seizes up. The near total closure of the Strait of Hormuz has exposed this reality with exceptional clarity.
DCW Litigation Digest
Universal Property Services, Inc. v. Lehigh Gas Wholesale Services, Inc.
Case involved LCs containing a condition that Issuing Bank would only honor demands if Applicant first furnished indemnification to Issuing Bank.
DCW Updates
OFAC Issues Advisory on Sham Transactions & Sanctions Evasion
On 31 March 2026, US Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory to alert of sham
DCW Litigation Digest
Evergrowing Bank Co., Ltd. v. Sambu Shipping Co., Ltd.
Case from China's Jiangsu High People’s Court involving issuing bank suing carrier for compensation for carrier’s release of cargo against applicant’s letter of indemnity in lieu of original bill of lading contains important lessons for banks.
