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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2 articles
Standby LC
Lexon Insurance Co. v. FDIC [2021]
Beneficiary argued that LCs are not contracts or leases and that FDIC as Receiver of closed Issuer lacked the authority to repudiate.
DCW Updates
Bad Standby LC Wording from Beneficiaries: Push Back or Get Pulled In
A chronic concern for banks is when intended LC beneficiaries – often government agencies, municipalities, insurance companies, and other so-called