8:30 – 9:00 Registration & Check-In
9:00 – 9:30 Welcome & Introducing Yourselves
Welcome Remarks: Michael BYRNE (IIBLP)
9:30 – 10:15 2023 News & Trends in Treasury & Working Capital
- ISP98 at 25 Years -- Taking stock of the rules, forms, interpretations, industry usage and the future
- Basel Capital Requirements Impacting Standbys & Demand Guarantees
- Capital Risk distribution and risk mitigation strategies
- Compliance checks: what do you do, and how can we speed them up?
10:15 – 10:25 Coffee & Networking Break
10:25 – 10:55 Aviation LCs: Risks & Mitigation Strategies
10:55 – 11:05 Coffee & Networking Break
11:05 – 11:50 What are the Courts Saying? Guarantees & Standby Edition
- Chian Teck Realty Pte Ltd. v. SDK Consortium [Singapore]
-- An alert to bankers on sending ‘notice' of non-extension - North Asia Ltd. v. Jingdong e-Commerce (Trade) Hong Kong Corp. [Hong Kong]
-- The “agreement exception” and the independence principle - Macquarie Bank Ltd. v. Banque Cantonale Vaudoise [England]
– Alleged fraud and failure to give notice of refusal under UCP600 standby - EFLO Energy v. Devon Energy Corp. [USA]
-- Issuer's duty when beneficiary demands correction, but applicant does not consent - Docdex Decisions on Standbys
11:50 – 12:00 Networking Break
12:00 – 12:30 Coffee with Corporates
What do your corporate customers need from your treasury and capital products? How can banks make their products more effective for applicants and beneficiaries?
12:30 – 13:30 Luncheon
13:30 – 14:15 Swift MT Update & The Future of Trade Messaging
Uptake after one year of Swift Standards Release 2023 plus the latest on the Swift has APIs for Trade Finance.
14:15 – 14:30 Coffee & Networking Break
14:30 – 15:00 Opportunities & Challenges
- Standbys requiring presentation of original and any amendments
- Presentation of documents by email or fax under standbys
- Authentication requirements for presentation of electronic documents under URDG guarantees
- ICC Opinion TA940: URDG Guarantee and Invoice Copies
- Beneficiary Request to Issuing Bank to Suspend or Withdraw a Pending LC Draw: Accept or Not
15:00 – 15:15 Coffee & Networking Break
15:15 – 16:00 Flipping the Switch: Digital Standbys are a “Go”!
- Singapore’s eGuarantee Template and Usage Experiences
- Big Picture: what does a fully digital standby look like?
- What lessons can we apply from trade finance to standbys and working capital?
- Where would a digital standby ecosystem live? SWIFT? Online database?
- How can we involve corporate users?
- What are the challenges and opportunities in a digital standby universe?
- Presentation of Scanned Documents via Email Attachment
- ICC/Swift API for Sbys & Gees
16:00 – 16:15 Coffee & Networking Break
16:15 – 16:50 Standby Text and Forms Seen & Used in Practice
What troublesome terms & conditions have been in required forms? More importantly, what can be done about them? Panelists will review problematic clauses and offer viable solutions for audience reactions. This panel will also update on how the ISP Model Forms are used or adapted for use in practice. We will also discuss the Energy LEAP Model Form.
16:50 – 17:00 Summary, Lucky Draw, and Closing Remarks
