DCW Monthly: March 2026
This month’s content highlights a familiar reality in letter of credit law & practice: structure alone does not guarantee
Standby LC
89 articles
(Page 3)
DCW Feature
ISP98, A Success Story
A member of the ISP drafting group offers perspective on the vision, birth, development, and future of the international rules built 25 years ago for standby LC practice.
DCW Articles
Three Recent ICC DOCDEX Decisions Applying the ISP98 Rules
Recent ICC Doxdex decisions (Nos. 367, 373, 382) interpret ISP98 rules, aiding parties in standby LC transactions.
DCW Articles
How Translation of ISP98 Transformed Standby LC Practice in Japan
The transition from UCP to ISP that revolutionized trade in Japan.
DCW Updates
An Embedded Thorny Clause to Clear Payment of Standby
Issuing bank received a timely demand that complied with the standby. However, on the beneficiary’s cover letter, the payment instruction request to remit payment to their account with a different bank than what is stated on the certification.