DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
2 min read
Banks are often advised by their lawyers to issue a demand guarantee with the condition that it is unassignable and subject to local law. If the beneficiary submits its demand but wants to assign the proceeds to its creditor, can the bank pay the creditor? This question was taken up at the IIBLP’s 2026 Guarantee & Standby Forum in Singapore.
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