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
DCW Litigation Digest
UniCredit Bank A.G. v. Glencore Singapore Pte. Ltd. [2022]
Unreimbursed LC Issuer alleged sham transaction between Beneficiary and insolvent Applicant.
13 min read
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DCW Litigation Digest
Universal Property Services, Inc. v. Lehigh Gas Wholesale Services, Inc.
Case involved LCs containing a condition that Issuing Bank would only honor demands if Applicant first furnished indemnification to Issuing Bank.
DCW Updates
OFAC Issues Advisory on Sham Transactions & Sanctions Evasion
On 31 March 2026, US Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory to alert of sham
DCW Litigation Digest
Evergrowing Bank Co., Ltd. v. Sambu Shipping Co., Ltd.
Case from China's Jiangsu High People’s Court involving issuing bank suing carrier for compensation for carrier’s release of cargo against applicant’s letter of indemnity in lieu of original bill of lading contains important lessons for banks.
DCW Articles
Price Verification: Doing More While Preserving the Independence Principle
For LC bankers to meet the challenge of price verification while upholding the independence principle, there's no substitute for exemplary knowledge of customers and their businesses.
