DCW Articles

Standby LCs Are Good Business – If You Know What You Are Doing!

Proposed EU Capital Requirements Regulation changes may raise credit conversion factor for standby letters of credit. Limited data suggests low default rates. Banks issue standbys for fees, and despite credit risk, many expire unused.

Vin O'Brien Jan 19, 2023

DCW Articles

UCP and Standbys

Use of UCP600 for standbys continues, despite there being better suited rules in ISP98

Ravi Kumar Jinugu Dec 24, 2022

DCW Feature

Understanding and Application of the Right of Recourse Under the PRC Supreme People’s Court’s Guarantee Rules

Exploring the guarantor's right of recourse, analyzing legal concepts, international banking practices, and banking structures in China. Specifically guarantees and counter guarantees.

Saibo Jin Nov 19, 2022

DCW Articles

2022 ICC Banking Commission Technical Meeting: Executive Summary

19-20 October 2022 The ICC Banking Commission held its 2022 Technical Meeting as a hybrid event in-person in

Christopher Byrnes Oct 21, 2022

DCW Feature

Case Illustrates Perils of Drafting LC Draw Caps and Handling Non-Standard LC Transactions

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.

Carter Klein Oct 21, 2022

DCW Articles

Eurobank Ergasias S.A. v. Bombardier Inc.:

Guarantors Caught Between Home Courts That Do Not Apply the Fraud Exception and Courts in the Counter-Guarantor's

Marc Lemieux Oct 20, 2022

DCW Articles

Technical Advisory Briefing #4 on Lost Documents Should Cause Much Relief for Practitioners

The ICC Banking Commission's TAB#4 sheds light on UCP600 Article 35, assuaging concerns about lost documents. The clarification emphasizes the LC issuer's responsibility to honor compliant drawings, even if documents are lost in transit between nominated banks, providing relief to practitioners.

Buddy Baker Oct 20, 2022

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.

Ravi Kumar Jinugu Sep 22, 2022

DCW Articles

Summary of Expert Report by Gary Collyer

Key takeaways from expert report issued in the KEB Hana Bank v. Korean Export Insurance Corporation court case.

Carter Klein Sep 15, 2022

DCW Articles

Kris Siebel Reflects on Standout Standby LC Career

A career in standby LCs - reflections from Kris Siebel of Societe Generale.

Kris Siebel Aug 27, 2022

DCW Articles

13 common Letter of Credit and Bill of Lading frauds: Revisiting the Solo Industries & Saad Group Trade Finance Frauds

Those who forget the lessons of history are condemned to repeat them. Trade finance frauds are no exception. Lessons from Solo Industries, Credit Agricole v. PPT, and practical advice for trade financiers.