New on DCW: The Banker’s Guide to Examination under Documentary Credits
For document examiners and trade finance operations staff, few decisions carry more weight—or more risk—than determining whether a
Latest news (Page 31)
DCW Updates
Court Reverses on California’s Excessive LC Fees Claim
An appellate court has reversed a trial decision, determining that an “overly burdensome” pleading requirement was applied to the amended
Standby LC
Three Sentenced to Prison in Standby LC Scam
Roy Johannes Gillar of Las Vegas, Harold Mignott of Voorhees, New Jersey, and Jerrid Douglas, of Freehold, New Jersey received prison sentences of six years, three years, and 45 months respectively, for their actions in a USD 1 million “upfront-fee” scheme which defrauded victims.
Standby LC
Manatee County (Florida) Defrauded of USD 1.4 Million
A Georgia (USA) man was arrested by detectives of the Manatee County (Florida) Sheriff’s Office and charged with Scheme to Defraud and Money Laundering and detectives have issued an arrest warrant for another Georgia man on charges of Scheme to Defraud and Conspiracy.
DCW Feature
UK Electronic Trade Documents Act 2023
This is the full text of the UK Electronic Documents Act (UK EDA) of 2023, including all definitions, how the law applies, and when it went into effect.
DCW Articles
The 2-in-1 Standby – a Sound Option or Specious Shortcut?
The 2-in-1 Standby: a Bid Standby that converts into a longer- term Performance Standby if certain conditions are met.
DCW Updates
ICC Meeting Announces & Reflects on Frustrating, Disappointing Results
At its third quarterly meeting of the year conducted virtually on 11 July 2023, the ICC Banking Commission reported on
DCW Feature
UK Digitalisation of Trade
UK Electronic Trade Documents Act 2023 marks a sea change in trade finance industry. At its core, the Act does something incredibly simple: it provides legal status to electronic trade documents, making them equivalent to their paper counterparts
DCW Information Digest
UCP 600 Revision Talk Resurfaces
Dave Meynell and Gary Collyer identify elements from the ISBP 821 drafting process that could potentially form the basis of a revision to UCP600.
DCW Updates
ICC Issues Briefing on Invoice Titles
Citing frequent instances expressed on social media and otherwise where the types of invoices acceptable or not under UCP-issued documentary