July 2026
DCW Monthly: July 2026
Courts have been circling the same idea since 1765: the bank pays unless there is fraud. What they have never
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UCP Revision – Hot Topics from Practitioners!
DCW is pleased to present the next instalment of its discussion series where experienced practitioners from around the world express their views on what they consider hot topics for revision or exclusion from the UCP rules.
DCW is pleased to present the next instalment of its discussion series where experienced practitioners from around the world express their views on what they consider hot topics for revision or exclusion from the UCP rules.
Navigate Articles:
UCP600 Article 32 (Instalment Drawings or Shipments) enables an irrevocable credit to cease to be available before its expressly stated expiry date for presentation. Like the presentation provision of UCP600 Article 14(c) addressed last month in DCW, this is another ‘hidden rule’ that goes against the fundamental principles of documentary credits and must go!
Think about it … when we started as practitioners in LCs years ago, we learned that the most impressive, intrinsically valued and unique principle of this financial instrument was its irrevocability from the date of issuance until the date of expiry.
This simple, straightforward and strong tenet forms the cornerstone of letter of credit operations: A CREDIT IS IRREVOCABLE UNTIL ITS EXPIRY DATE.
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DCW Articles
Letter of Credit Fraud
With regard to how fraud may disturb a bank's obligation to honour under an independent undertaking, courts have used various qualifiers to describe the level necessary. In his expansive article, Dr. Alan Davidson explores the concept of "Letter of Credit Fraud" under law and in the courts.
DCW Articles
Surrendered Bills of Lading – Strange Path to the Right Result
Surrendered bills of lading are not addressed in UCP or ISBP, so ICC was approached to opine on the topic. Kim Sindberg details the initial ask and the guidance ultimately given.
DCW Articles
Over-Insurance: Worthy of Attention, but Not under UCP 600
Over-insurance is not cause for concern under the UCP 600 practice rules, but it may raise unsettling questions that need addressed from a risk perspective.
DCW Profiles
Bringing Passion and Joy to Trade
Trade Finance Career Spotlights: A.T.M. Nesarul Hoque From his early days in banking, A.T.M. Nesarul Hoque’
