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 Articles
The Profile of LC Users: Evidence from 135,000 Trading Firms
A study of 135,000 Vietnamese trading firms reveals some interesting data regarding what it takes to access trade finance products from banks. Hint: start-ups do not get access.
5 min read
What 135,000 Vietnamese trading firms reveal about access to trade finance
Trade bankers tend to have pretty good instincts for who ends up using letters of credit. A new academic study using detailed trade data from Vietnam suggests those instincts are mostly right — and the numbers behind them are fascinating. But first, a quick explanation of why Vietnam:
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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’