October 2025
DCW Monthly: December 2025
As the year draws to a close, this month’s DCW focuses on the issues likely to carry into 2026.
Latest news (Page 74)
ISP98 Model Forms
ISP98 Form 2 - Model SBLC Providing for Extension
ISP98 Model Form 2 is a template for a Standby Letter of Credit (SBLC) providing for extension and incorporating annexed Form of Payment Demand with Alternative Non-Extension Statement.
ISP98 Model Forms
ISP98 Form 3 - Model Standby Providing for Reduction
ISP98 Model Form 3 is a template for a Standby Letter of Credit (SBLC) providing for Reduction and that also incorporates an annexed Form of Reduction Demand.
ISP98 Model Forms
ISP98 Form 4 - Model SBLC Providing for Transfer
ISP98 Model Form 4 is a template for a Standby Letter of Credit (SBLC) providing for Transfer and incorporating a template of a Transfer Demand.
ISP98 Model Forms
ISP98 Form 5 - Simplified Demand Only SBLC
ISP98 Model Form 5 is a template for a simple Demand Only Standby Letter of Credit (SBLC).
ISP98 Model Forms
ISP98 Form 6 - Model Counter Standby
ISP98 Model Form 6 is a template for a Model Counter Standby Letter of Credit (SBLC) with Annexed Form of Local Bank Undertaking
ISP98 Model Forms
ISP98 Form 7 - Model Standby Requiring Confirmation
ISP98 Model Form 7 is a template for a Standby Letter of Credit (SBLC) requiring Confirmation.
ISP98 Model Forms
ISP98 Form 8 - Model Confirmation of Standby
ISP98 Model Form 8 is a template for a Confirmation of a Standby Letter of Credit (SBLC).
DCW Articles
Counter Standby/Counter Guarantee Practice: The Problems of Nomenclature
The lack of a common nomenclature for counter undertakings invites problems for practice and has plagued the industry for decades. It doesn't have to be this way.
DCW Readers Speak
Confirmed Standbys with Auto Extension Clauses
💡Editor’s Note: This query generated an exchange of emails among a group of DCW Editorial Advisory Board members whose
DCW Updates
Blocked after Presentation: Another Layer of Concern
Should an issuing bank pay if presented documents comply, but it learns of recent news that an entity involved within
Automatic Extension
Automatic Extension -- Notice of Non-Extension
The Problem UCC 5-106(b) provides: “After a letter of credit is issued, rights, and obligations of a beneficiary, applicant,
