DCW Monthly: September 2026
This month's content returns to a question the rules answer clearly and the courts sometimes do not: who
Singapore
A collection of DCW articles, case reports and news coming from or relating directly to Trade Finance, Treasury, and Compliance in Singapore.
52 articles
DCW Articles
Recent Challenges to the Independence Principle in the Courts
An LC's independence from the underlying transaction it supports is one of the core tenets that distinguishes this instrument type from other promises. When disputes arise, courts at times have given uneven treatment to independent undertakings with regard to the independence principle.
DCW Updates
Sharing the Risk
Banks are increasingly turning to risk-sharing structures to manage regulatory capital, control funding costs, and expand capacity.
DCW Updates
Reimbursing Bank in NY Not Enough for Jurisdiction, Says Court
In a recent complaint filed in New York, a Singapore trading company has asserted that a Bangladesh bank did not
DCW Updates
Maritime Piracy & Robbery at Five-Year High
Reported incidents of piracy and armed robbery against ships worldwide in 2025 reached their highest level since 2020 according to
DCW Updates
Singapore Court Affirms Judgment, Rejects Applicant’s ISP98 Arguments
In DJY v. DJZ[[1]] involving a standby letter of credit, the Appellate Division of Singapore’s High Court dismissed
DCW Updates
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
DCW Updates
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
DCW Updates
Singapore Court Dismisses Appeal in Circular Oil Trade Case
Banque de Commerce et de Placements S.A. (BCP) of Switzerland has lost its appeal of a High Court of
DCW Conference Report
2025 Singapore Guarantee & Standby Forum: Executive Summary
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.
DCW Updates
Company Failed to Prove ‘Asleep at the Wheel’ Director Responsible for Losses
In reversing a 2024 trial court ruling, Singapore’s Appellate Division of the High Court found that a former director
DCW Litigation Digest
Bintai Kindenko Pte Ltd. v. Samsung C&T Corp.
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.
DCW Articles
How Secure is Your Security?
A recent Singapore case highlights the potential inherent risks for banks that take credit insurance policies as security.
