DCW Updates
ICC Initiates Proposal on API Industry Standards for Guarantees & Standbys
On 5 June 2023, the ICC Banking Commission released the findings and proposals of its working group concerning API Industry
Indian Corporate First to Use SWIFT India’s e-Bank Guarantee Platform
Natural gas company GAIL Limited, in coordination with Axis Bank, has announced it is the first Indian corporate to go
Bangladesh Curbs TBML
On a positive note, Bangladesh has experienced a sharp decline in trade-based money laundering in recent months “following intensifying monitoring
US Agencies Issue Followup Alert on Russian Evasion Attempts
Further to their June 2022 release of a joint alert, US Treasury’s Financial Crimes Enforcement Network (FinCEN) and the
Legislative Bill Introduced in New York to Advance Electronic Records
A bill to amend New York State’s Uniform Commercial Code (UCC) and adopt a new Article 12 (Controllable Electronic
Jin Provides Update on Standby LC Cases of Significance in China
Prominent Chinese lawyer Saibo Jin alerted delegates at the IIBLP Annual Survey of LC Law & Practice in Hong Kong
Enigio’s trace:original Solution Backs First Complete Digital Trade Transaction
Digital information tech company Enigio announced on 31 May 2023 that it has completed its first digital end-to-end trade document
Vietnam’s New Regulations on Bank Guarantees in Force
On 1 April 2023, Circular No. 11/2022/TT-NHNN issued in 2022 by the State Bank of Vietnam (SBV) regarding
LC Issuances Drop to 32-Month Low in Bangladesh
Multiple factors have contributed to a continuing precipitous fall in the value of LCs opened and settled in Bangladesh. According
ICIEC Reaches Credit Insurance Policy Deal with Saudi EXIM Bank
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a segment of the Islamic Development Bank (IsDB)
EU Sanctions Used to Enjoin LC
Lummus Technology Heat Transfer B.V. v. Credit Agricole Corporate Investment Bank involves a EUR 5.1 million (USD 6.
Letters of Indemnity: Who’s Really Protected?
Recent court cases in Singapore have shone a spotlight on the serious perils of relying on a letter of indemnity (LOI) in lieu of presentation of shipping documents.
