DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
DCW Government Report
U.S. Office of Foreign Assets Control (OFAC) FAQ 1151
OFAC FAQs surrounding Executive Order 14024
2 min read
Read next
DCW Updates
US Treasury Imposes Record Penalties against Bank of America
On 13 October 2026, the US Department of the Treasury announced that three of its agencies have imposed enforcement actions,
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 Articles
International Trade and the Strait of Hormuz: Disruptions, Risks, and Systemic Challenges
International trade depends on two inseparable flows: the movement of goods and the movement of money. When goods stop moving, payments stop moving — and when both stall, global trade seizes up. The near total closure of the Strait of Hormuz has exposed this reality with exceptional clarity.
DCW Articles
Thank heavens: Why banks can keep calm and carry on after Celestial Aviation
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.
