DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
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This month we’re digging into the legal, operational, and regulatory tensions at the core of LC and guarantee practice.
This is the full text of the UK Electronic Documents Act (UK EDA) of 2023, including all definitions, how the law applies, and when it went into effect.
UK Electronic Trade Documents Act 2023 marks a sea change in trade finance industry. At its core, the Act does something incredibly simple: it provides legal status to electronic trade documents, making them equivalent to their paper counterparts
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 663 Type of Lawsuit: Beneficiaries sued Confirming Bank that
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
Within the recent past, trade finance banks have suffered billions in losses due to fraud. This has obliged many banks to reconsider their role in financing trade flows whilst others have simply abandoned the business. Citing Glencore, Navig8 Armetrine, and Hin Leong
A look into application of US UCC Article 5 for letter of credits outside of the United States
Pavel Andrle's exploration of the originality of paper and electronic documents - Part 3 of a three part series.
Exploring the guarantor's right of recourse, analyzing legal concepts, international banking practices, and banking structures in China. Specifically guarantees and counter guarantees.
19-20 October 2022 The ICC Banking Commission held its 2022 Technical Meeting as a hybrid event in-person in Paris and
In Natixis Funding Corp. v. GenOn Mid-Atlantic, the 5th Circuit addresses crucial aspects of letter of credit practice, exploring prepayment, collateralization, structured finance, indemnities, good faith limits, and consequences of drafting errors.
The provisions of URDG can be modified, overridden, or excluded by inserting suitable replacement wording in the text of the guarantee.
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