Unpublished work by Prof. Byrne examines the first of four terms contained in ISP98 Rule 1.09(c) that provide terminology for use in standbys that permit or require presentation by non-paper means.
Standby LC portfolios often rest on processes that work until a single point of failure is tested. Here, Nick Mayer, President of Cibar, explains why banks are rethinking how renewals, fees and compliance checks are handled, and where automation strengthens control rather than replacing judgement.
Corporate treasury teams can attain efficiency advantages and mitigate risk by elevating their level of oversight and control of guarantees and standbys for which they are beneficiary. Alexander Paetzold of Trade Technologies explains how.
Assessing the risk of breaching regulatory and compliance requirements while simultaneously examining for documentary compliance under stringent time pressures has complicated banks’ trade finance operations for years. A UK Supreme Court decision provides a degree of comfort and clarity to banks.
In the latest installment of this annual survey article series, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2024.
Practice rules for independent undertakings do not address "pay and walk" clauses that are being used in some regions and shunned by others. Here, David Williams puts forth an alternative option for consideration.
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?
