DCW Monthly: May 2026
It's been just under two months since the ICC Banking Commission voted against revising UCP 600, but the
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A recent decision issued by a New York court demonstrates the importance of proper understanding and use of the SWIFT messaging system.
In Heineken Beverages International (PTY) Ltd. v. Soleil Chartered Bank, Heineken Beverages, as beneficiary of an ISP98 standby LC, brought a complaint in New York state court for nonpayment of the standby against issuer, Soleil Chartered Bank.
Issuer moved to dismiss the complaint solely on the ground that the standby was subject to exclusive jurisdiction in France, based on the letters “FR” appearing in Field 44J in a SWIFT message.
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