June 2024
Banks Authenticating Beneficiaries’ Drawings: Advantageous or Unnecessary?
Fraud prevention is a crucial pursuit, but is an interim/hybrid solution requiring a beneficiary’s bank to vouch for the beneficiary the answer? Or does it introduce added risks?
When the Beneficiary Bypasses the Nominated Bank
ICC TAB 9 points out that there is a risk of documents being presented to more than one bank at the same time, especially under an LC that is freely negotiable, but it stops short of making any recommendations for avoiding this risk. Here’s my suggestion.
UCP600 Article 32: A Hidden Trap
UCP Revision – Hot Topics from Practitioners! DCW is pleased to present the next instalment of its discussion series where experienced
Empower the AML Officer
Someone recently asked me "if you had one wish (in the AML world), what would you fix?" ... and
Re-Examining the Humei Case and ICC Opinion TA936: Chinese Court Standards for Document Examination under Letters of Credit
This in-depth discussion between two leading figures in the study of LC law & practice is based on an online lecture on 25 February 2024. In their remarks, Saibo JIN and SOH Chee Seng talk about the "thinking" and different methods of analysis adopted by international banking experts.
First Modular Gas Systems Ltd. v. Citibank Europe PLC [2024]
💡First Modular Gas Systems Ltd. v. Citibank Europe PLC [2024] [2024] IEHC 1 [Ireland] Type of Lawsuit: Applicant renewed request
The Milky Whey, Inc. v. HSBC Bank USA, N.A. [2024]
Confirming Bank moved to dismiss Beneficiary complaint for wrongful dishonor. ISP98 Standby subject to New York Law.
