October 2025
DCW Monthly: December 2025
As the year draws to a close, this month’s DCW focuses on the issues likely to carry into 2026.
Demand Guarantees
36 articles
(Page 3)
DCW Feature
Modifications and Exclusions of URDG758 Articles in Demand Guarantees
The provisions of URDG can be modified, overridden, or excluded by inserting suitable replacement wording in the text of the guarantee.
DCW Litigation Digest
KEB Hana Bank v. Seoul Insurance Corporation [2021]
Korean Supreme Court dismisses Instructing Bank's appeal in URDG458 case [2021]. Extend or Pay request ruled invalid; Counter Indemnitor not obliged to pay. Learn more about the construction dispute.
DCW Articles
Originality of Paper and Electronic Documents (Part 2)
Pavel Andrle's exploration of the originality of paper and electronic documents - Part 1 of a three part series.
DCW Articles
Independent vs. Accessory Guarantees – a Tale of Two Cases: Shanghai Shipyard and Bank Audi
Different jurisdictional interpretations of guarantee law reinforce the need for practice rules in demand guarantee transactions.
DCW Articles
What Are We Supposed to Do? A Practical Approach to Sanctions Clauses
The position of a banker in the trade finance environment includes trying to reconcile opposite demands of a buyer and a seller.
DCW Updates
Latest ICC Draft Opinions Released for April 2022 Meeting
The ICC Banking Commission has released three Draft Opinions that will be discussed at its next opinion review session that
DCW Updates
England’s Vexing Guarantee Legacy: Can Better be Done?
Did English courts finally define the difference between a surety guarantee versus a demand guarantee?
Demand Guarantees
ISDGP and Advising Banks: For a Flexible, Pragmatic Interpretation of Control on Behalf of the Issuer
On 31 March, 2021, the long-awaited International Standard Demand Guarantee Practice (ISDGP) Publication No. 814E, a complement to URDG758 documenting
DCW Articles
Standby Letters of Credit with “Pay and Walk” Clauses: How They Work and What to Watch for
Certain banks issuing standby letters of credit subject to ISP98 (or demand guarantees subject to URDG758) have been including “Pay
DCW Articles
Potential Issues with Demand Guarantees – Lessons for Bankers from a Singapore Case
A Singapore court case highlights critical pitfalls in handling demand guarantees. This article unpacks lessons for bankers on documentation, fraud risk, counter-guarantees, and navigating complex cross-border disputes.
