This month’s edition emphasizes how seemingly small drafting choices and operational decisions can lead to substantial legal and compliance
At its first quarterly discussion session of 2026 on 27 January, the ICC Banking Commission finalized ICC Opinion TA958rev. It
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
Dave Meynell and Gary Collyer discuss the suitability of ISP98 standby rules for current trade practices.
Explore ISP98's evolution and global impact on standby LCs - 25 years on. Discover its unique features, comparisons with UCP 600 & URDG 758, and the challenges users face.
ISP98 Rule 1.02: Relationship to Law and Other Rules
For the 17th consecutive year, the Institute of International Banking Law & Practice conducted its Americas Standby & Guarantee Forum on 11 October 2023. This summary provides an overview of topics discussed and debated at the program hosted by Hogan Lovells in New York and held as a hybrid event.
Despite established rules like the eUCP and eURC, the practical implementation of electronic presentations lags. Except perhaps via email and Fax...
Prominent Chinese lawyer Saibo Jin alerted delegates at the IIBLP Annual Survey of LC Law & Practice in Hong Kong
A look into application of US UCC Article 5 for letter of credits outside of the United States
Energy LEAP, a not-for-profit organisation in which member companies across the oil trading industry work to define standards which offer
The Windsor Township v. Tompkins Financial Corp. case emphasizes the significance of original letters of credit but questions their necessity in modern electronic transactions.
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.
A chronic concern for banks is when intended LC beneficiaries – often government agencies, municipalities, insurance companies, and other so-called power
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