August 2025
August 2025 ICC Banking Commission Meeting
The ICC Banking Commission’s quarterly meeting, held via Zoom on 5 August 2025, covered three draft opinions, updates on Technical Advisory Briefings, and the status of the ISBP Revision and ISBP Education Project.
DCW Monthly: August 2025
From courtrooms in Illinois to conference halls in Singapore, this issue unpacks the rulings, risks, and rule debates in today’
LCs That Contain a Law and Jurisdiction Clause
Given the success of practice rules and banks’ ability to more readily find resources for the proper interpretation of the rule sets, does it not make sense to avoid inclusion of a governing law or jurisdiction clause?
Automatic Extension LC Issues
The recent case of Illinois DNR v. Regions Bank illustrates the importance of clear wording of automatic extension clauses and issuing banks including a final expiration date in their standbys.
Charter Party Bill of Lading (CPBL) Operations: Navigating Risks and Mitigation Measures
CPBLs, governed by UCP600 Article 22 and addressed in several ISBP821 paragraphs, are required under credits for certain types of shipments. It is important to appreciate the operational aspects, risks, and risk mitigation techniques of CPBLs.
ISBP Revision at a Crossroads
The ICC Banking Commission sent out its comments on ISBP Revision Draft 3 feedback received from 19 ICC National Committees
Questions about the ICC Opinion Handling Process
The ICC Banking Commission’s “ICC Official Opinion Handling Procedure and Terms of Reference”, last updated in June 2023, sets
Singapore Court Dismisses Appeal in Circular Oil Trade Case
Banque de Commerce et de Placements S.A. (BCP) of Switzerland has lost its appeal of a High Court of
UNCITRAL Approves Draft UN Convention on Negotiable Cargo Documents
On 14 July 2025, the United Nations Commission on International Trade Law (UNCITRAL) announced its approval of the draft convention
BAFT Releases Paper on ISO 20022 Migration in Sanctions & Compliance
As the latest installment in its series of papers on the financial industry’s shift to ISO 20022 messaging standards,
If Requested Copies are not Presented, is It a Discrepancy?
LCs calling for copies and photocopies. Does it make a difference if copies are called for by the applicant compared
Saris v. Flagstar Bank
Plaintiff asserted a claim under Massachusetts’ adoption of UCC Article 5-109 (Fraud and Forgery).
