Beneficiaries Want Certainty, Applicants Want Something Else
Ambiguous Guarantees
Ambiguity in guarantees leads to unexpected and undesirable results for the bank, the beneficiary, or the applicant/principal. The problem of ambiguous wording in guarantees was discussed at IIBLP’s recent Guarantee & Standby Forums in Asia (see Ottoway, Bitumen cases in 2017...SWIFT Changes Coming
SWIFT MT 700
Significant changes are coming to SWIFT MT 700 series for commercial LCs (in November 2018) and the MT 760 series for guarantees & standbys (in November 2019). Will bankers and bank systems be ready? One facet possibly overlooked is their...Invest in UCP600
Invest in UCP600
Despite an outpouring of suggestions for a UCP revision in the form of the “UCP700 Wishlist” conducted over the last two years at IIBLP events as well as in polls produced by Documentary Credit World, the decision reached at the...
Wolfsberg and Other Wheels in Motion
2017 Trade Compliance
So far 2017 has given way to a breadth of new information regarding trade based financial crime. Highly anticipated compliance guidance for trade transactions hit the web and email inboxes in late January when The...Notes from ICC Technical Meeting in Rome
The ICC Banking Commission Technical Meeting took place in Rome from 7-9 November, 2016. Your voice from the ground floor, DCW will be filtering through the information from the meeting to bring you key takeaways in the upcoming Nov/Dec double issue.
Notes from ICC Banking...
ICC Draft Opinion Updates from the Rome
DCW is reporting from the ICC Banking Commission Technical Meeting in Rome on 7-9 November. The Draft ICC Opinions panel met yesterday (Wednesday, 9 November) and as usual produced spirited conversation amongst participants. Some noteworthy takeaways from the 14 discussed Draft Opinions include:
Premium Content from May DCW Issue
Documentary Credit World (DCW)
First published in 1997, DCW is the longest running trade finance publication, relied on by more than 1,100 specialists worldwide. With a global advisory council and a rotating cast of prominent contributors, DCW keeps you in the know...DCW Bringing Back the Classics!
DCW Case Classics
A great deal can be learned from landmark court cases of past years. In recent issues, Documentary Credit World has dusted off...