DCW Updates
Report: Russia Seeks Reversion to Paper LCs with India
As an alternative to use of SWIFT for the sending of letters of credit, the Bank of Russia and Reserve
Bangladesh MCCI: Control Importing of Goods
Citing inflation as a major challenge in the coming months, Bangladesh’s Metropolitan Chamber of Commerce and Industry (MCCI) recommended
GSBN Announces B/L Data Enhancements
Global Shipping Business Network (GSBN), a technology consortium building blockchain- enabled operating systems geared toward global trade, announced two new
Impact of Singapore’s Code of Best Practices Has Been Varied
It has been more than 18 months since the Association of Banks in Singapore (ABS) published the “Code of Best
ICC Draft Opinion for July 2022 Meeting Released
One Draft Opinion will be discussed at the ICC Banking Commission’s next quarterly virtual meeting in July 2022. The
India Abruptly Imposes Wheat Export Ban
Reversing course from a previous statement, the Indian government announced it is banning wheat exports. Only wheat exports backed by
UK Steps Up Digitialisation of Trade Effort
ICC United Kingdom, supported by the Tees Valley in the north of England, has launched the Centre for Digital Trade
Greek Bank Denied Insurance Claim on Ship Detained by Venezuela
The UK High Court of Justice, Queen’s Bench Division Commercial Court has ruled against a Greek bank in its
STI Orchard Case Tied to Hin Leong Debacle Merits Further Investigation
In The “STI Orchard”, an in rem admiralty action, the High Court of Singapore denied a financing bank’s motion
Nepal Ban on Luxury Goods May Increase Counterfeits
An April 2022 government-imposed ban on imported goods categorized as luxury items intended to curb the outflow of dwindling foreign
Sri Lanka Seeks Coal, but no LCs to Back Sales
Sri Lanka’s Power and Energy Minister has sought Cabinet approval for emergency purchases of coal, but importers have been informed by People’s Bank that it is not possible to open LCs.
ICC Releases Technical Advisory Briefing on “Without Delay”
Perceiving a need among the letter of credit community for guidance on interpretation of the phrase “without delay” regarding the
