News

Investigations Expand into Vesttoo LC Fraud Allegations

Originally reported in Documentary Credit World The US Federal Bureau of Investigation (FBI) has reportedly begun its own probe into allegedly fraudulent letters of credit linked to collateralized reinsurance...

First Citizens & Flagstar Climb in US LC Rankings

First Citizens and Flagstar banks. the two financial institutions which purchased from the US Federal Deposit Insurance Corporation (FDIC) the bridge banks of Signature Bank...

Standbys without Expiration - Disagreements

Documentary Credit World reader feedback has expressed disagreement with the statement in the Update on “Standbys without Expiration Dates” (Oct 2022 DCW 4) that “It...

Revisiting the Solo Industries & Saad Group Trade Finance Frauds: Past Could Resurface If Bankers Are Lax

Those who forget the lessons of history are condemned to repeat them. Trade finance frauds are no exception. - Article by Pradeep Taneja This article appears in...

Are Economic Sanctions Introducing Uncertainty into Trade Instruments?

With the expanding use of economic sanctions within and across jurisdictions, lawyers have to consider not just the wording of the relevant economic...

ISP vs. UCP: Key Differences for Standbys

There are risks and lost opportunities in using UCP600 for standbys. Because of the great advantage of rules, many standbys are issued subject...