DCW LC Statistics
LC Statistics: 4Q25 US Bank LC Issuance
DCW reports quarterly LC issuance statistics for the top 600 banks headquartered in the US. Numbers are in USD 1,
DCW Articles
Receiving Direct Presentation from a Second Beneficiary: What’s an Issuing Bank to Do?
How are LC specialists to understand UCP600 Article 38(k) in situations where a second beneficiary bypasses the transferring bank and presents documents directly to the issuing bank? Scenarios, fundamental issues, and a proposal for revising this UCP sub-article are addressed here.
8 min read
Although ICC’s Technical Advisory Briefing No. 9 released in March 2024 addresses the subject of direct presentation of documents to an issuing bank, it did not take up the matter of it arising under a transferable documentary credit. Here, I would like to examine UCP treatment of such situations.
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DCW Updates
ICC NCs to Comment on Future of UCP600, ISBP
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
DCW Articles
The Meaning of Assignable
Like certain other terms used in the LC and guarantee field, “assignable” can mean different things to different parties. Glenn Ransier reviews what the practice rules say and the importance of clarity.
DCW Articles
The Range of Approaches to Price Verification in Trade Finance
The views expressed by the authors in this publication do not represent their employers, any entity, government, or agency. Any
DCW Articles
Issues Regarding Transferable Credits under UCP600 Article 38
Drawing on the China case, Luoyang Aviation, Saibo Jin examines the relationship between the transferred credit and the original credit.
