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.
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.
The 2022 Global Trade Facilitation Summit, a two-day event providing opportunity for international trade, finance, and business professionals to re-connect
