Auto-Extension Clause
Not So Evergreen: Court Limits Duration of Auto-Extension Clause in Letter of Credit
Paul Roder examines why the Court decision in Starr Indemnity is troubling both in its interpretation of the auto-extension clause and the practical effect it may have on the industry.
Views on ICC Opinion TA954
Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
2025 Americas Standby & Guarantee Forum: Executive Summary
For the 19th consecutive year, IIBLP conducted its Americas Standby & Guarantee Forum. Held in New York City on 4 November 2025 and hosted by Baker McKenzie, the program was organized as a hybrid event. This Executive Summary provides an overview of key topics discussed and debated.
Comments on ICC Banking Commission Opinion TA954
The auto-extension clause used in a UCP 600 standby that gave rise to ICC Opinion TA954 illustrates the serious concerns that can emerge when ambiguous wording is inserted in a credit. Li Huang identifies and examines issues to consider.
October 2025 ICC Banking Commission Meeting
The ICC Banking Commission’s quarterly meeting, held via Zoom on 21 October 2025, discussed six draft opinions, the status of Technical Advisory Briefings, a call for comments on the future of UCP and ISBP, and the emergence of stablecoin as relates to ICC rules and digital trade law.
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.
Discussion Exposes Troubling Standby Wording and Choice of Rules
In a recent discussion, LC specialists were asked if they would be willing to issue a standby LC subject to
Ee Hup Construction Pte Ltd. v. China Jingye Engineering Corp. [2025]
Applicant appealed Singapore trial court decision granting partial injunction on performance bond.
Chian Teck Realty Pte Ltd. v. SDK Consortium [2023]
[2023] SGHC 210 [Singapore] Cases Referenced: * CRK Contract Services Pte Ltd. v. Asplenium Land Pte Ltd. [2015], [2015] 3 SLR
