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.
For the 18th consecutive year, IIBLP conducted its Guarantee & Standby Forum for the Singapore trade finance market. Held on 19 May 2025 and hosted by S&P Global, the program was organized as a hybrid event. This Executive Summary provides an overview of topics discussed and debated.
Bank of China’s fraud lawsuit against BP Singapore over $125M in LC payments tied to non-existent oil survives dismissal. The court found sufficient grounds to proceed on claims of fraud, negligence, and conspiracy—raising the stakes for LC compliance in commodity trades.
