September 2025
DCW Monthly: September 2025
From London to New Delhi to New York, this issue brings together the latest laws, rulings, and rule-set debates in
Latest TABs Address Confirmation, Procedure for Payment under UCP600
In the latest rollout of its Technical Advisory Briefings (TABs), the ICC Banking Commission has issued TAB No. 13, “Confirmation
ICC Releases Draft Opinions Slated for October 2025 Meeting Agenda
Six Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on
Forged LC Case Underscores Need for Due Diligence
Shockwaves went through the reinsurance industry when reports surfaced in July 2023 that employees of the Israeli insurtech Vesttoo Ltd.
Judgments Issued in Massive Fraudulent Nickel-Trading Scheme
In two judgments issued concurrently on 29 July 2025, the High Court of Singapore has ordered nine former employees of
Sri Lanka Customs Action Leads to Vehicles Sitting Idle at Port
Sri Lanka’s vehicle imports are typically backed by cross-border letters of credit which has been the industry norm for
ICC Banking Commission Conducts Strategic Meeting
ICC Banking Commission meets in Singapore to discuss UCP revision, Basel III advocacy, ICC Trade Register expansion, and digital trade finance.
Singapore Court Affirms Judgment in Misdelivery Case
Further to a case previously analyzed in DCW, a Singapore Court of Appeal has affirmed the decision in The “Maersk
A Comparison of URDG 758 and UN Guarantee Convention
URDG 758 and the UN Guarantee Convention both address independent guarantees and in many respects their content is similar, but differences exist in their areas of focus.
Delhi High Court Decides for Beneficiary. What Took So Long?
The Indian judicial process can move at a sluggish pace, but the facts of this LC case suggest it should not have lingered. Ashish Madan considers the discrepancies and asks questions if other factors contributed to the delay.
New York Legislature Passes 2022 UCC Amendments
Enactment of the 2022 Amendments to the Uniform Commercial Code updates New York’s commercial law to fully recognize electronic records. They also affirm that signed electronic letters of credit have the same legal effect as paper-based LCs.
The UK’s New “Failure to Prevent Fraud” Law
The UK "Failure to Prevent Fraud" law presents challenges for global banks operating in the UK. Read how the law applies, and generally what banks should be doing to comply.
