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.
For the 18th consecutive year, IIBLP conducted its Guarantee & Standby Forum for the Singapore trade finance market. Held on 19 May 2025 and hosted by S&P Global, the program was organized as a hybrid event. This Executive Summary provides an overview of topics discussed and debated.
On appeal, Court considered whether trial court: erred in holding that Subcontractor/Applicant was contractually precluded from relying on the unconscionability exception; correctly held that Contractor/Beneficiary’s demand was not fraudulent; and erred in declining to discharge the injunction.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
Following his writing in the January 2025 edition of DCW, Robert Parson continues his look at high profile cases by revisiting decisions surfacing from Singapore commodity defaults of recent years.
