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 Readers Speak
Can an LC be Commercial If It Does Not Require a Transport Document?
Query: We are a consultancy acting as applicant on behalf of our client seeking to import. Our bank’s trade
DCW Readers Speak
Counter Guarantor’s Sanctions Clause: How Does It Impact The Guarantor?
A DCW reader asked about the impact of a specific clause in a counter guarantee issued by a US bank under ISP98 and Saudi law. This clause raises concerns about the presentation of documents and potential payment restrictions.
ISP98 Model Forms
ISP98 Form 1 - Model SBLC with Payment Demand
ISP98 Model Form 1 is a template for a Standby Letter of Credit (SBLC) that also incorporates an annexed Form of Payment Demand with Statement.
ISP98 Form 11.1 - Model U.S. Government SBLC
ISP98 Model Form 11.1 is a template for a SBLC for federal, state, and local governments in the United States to use in updating and improving their required or permitted forms of SBLC that support underlying obligations to the government.
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).