This month we’re exploring where traditional instruments meet modern LC practice, focusing especially on the complications surrounding drafts and
For the 7th year, the Institute of International Banking Law & Practice conducted its one-day Americas Trade Finance Compliance Annual Meeting. This summary provides an overview of topics discussed at the conference hosted by S&P Global on 2 April 2025 in New York and conducted as a hybrid event.
The ICC has neither accepted the draft as a standard requirement, nor have they been successful in casting it out from LC practice. This article is an attempt to resolve the confusion and place bills of exchange laws and the UCP in their proper perspectives.
Calls to simplify the UCP are nothing new—but are we solving the wrong problem? Buddy Baker argues it’s not the rules that need fixing, but the over-complicated letters of credit themselves. Could a simpler LC structure reduce errors, speed up processing, and cut through the red tape?
Gain full access to analysis, cases, eBooks and more with a DCW Free Trial
