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?
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.
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
Continuing an annual survey written by top legal experts each year since 1992, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2023.
Following his writing in the January 2025 edition of DCW, Robert Parson continues his look at high profile cases by revisiting decisions surfacing from Singapore commodity defaults of recent years.
Low default rates, increased flexibility, technological advancements and evolving regulations make standby letters of credit (SBLCs) an appealing option in international trade
