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Institute of International Banking Law & Practice

2022 Standby & Guarantee Forum | New York | 18 October | 7 CPDs | In-Person + Hybrid

Regular price $ 395.00 USD
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Note: Program is subject to change 


8:30 – 9:00      Registration & Check-In

 


9:00 – 9:20      Welcome & Introducing Yourselves

Welcome Remarks: Michael BYRNE (IIBLP)

 


9:20 – 9:30      Welcome from our Host:

Welcome Remarks: Rick MARTINEZ (Hogan Lovells)

 


9:30 – 10:30    Hot Topics

·       New capital requirements impacting standbys & demand guarantees 

·       The Utility of Commercial Standbys

·       PRC Judicial Interpretation of Independent Guarantees & Right of Recourse

·       ISDGP

·       Standing Up for Standbys

·       ISP Model Form: How are they being used?

 


10:30 – 11:00 Coffee & Networking Break


 

11:00 – 12:00  Pivotal Cases Impacting Practice 

  • BNP Paribas, Singapore Br. v. Natixis, New York Br. (Setoff; assignment of LC proceeds)
  • Ping An Bank v. Huishang Bank (ISP98 standby and PRC Independent Guarantee Provisions’ deference to practice rules) 
  • Windsor Township v. Tompkins (missing original of LC or amendment) (F.F.)
  • Project Stewart (impossibility to populate SWIFT MT Field as LC specified)
  • Audi Bank (Advance payment guarantee: independent or not) (F.F.)
  • Shanghai Shipyard (Accessory vs. Independent Guarantee)
  • ARSS – SIPS v. Union of India (injunction of payment of performance guarantee)

 

Moderator: Carter KLEIN (Jenner & Block)

 


12:00 – 12:30  SWIFT MT Update & The Future of Trade Messaging

How will SWIFT’s evolving strategy impact guarantees and standbys? Core initiatives shaping these products will be addressed, including trade-based APIs. Report on the trade community’s adaptation to SR 2021 and changes to MT 760s.     



12:30 – 1:30    Lunch Break


 

1:30 – 2:15      Looking Out for the Interests of Applicants and Beneficiaries


What do applicants and beneficiaries want and need from standbys and guarantees? Stepping in the shoes of non-bank parties, panelists will also address safety & soundness considerations.

  


2:15 – 3:00      Digitalisation of Standbys & Guarantees 

·       Presentation of Scanned Documents via Email Attachment

·       A More Promising Option for Blockchain

 


3:00 – 3:30      Coffee & Networking Break

 


3:30 – 4:10      Counteracting Counter Undertaking Confusion 

The use of counter standbys and guarantees can be advantageous to parties involved, but can be a great source of frustration and peril for some. Too often, local and counter undertakings are misnamed or misaligned which can distort the nature of the transaction and introduce uncertainties. In this discussion, panelists will confront common problems and offer possible remedies.                  



4:10 – 4:50      Traps & Challenges in Guarantee & Standby Practice

·       Confirmation and Sanctions

·       Force Majeure: Are Prevented from Acting or Performing?

·       When is a Guarantee “Issued”?   

 


4:50 – 5:00      Summary of Critical Issues, Raffle Draw, and Closing Remarks

 

 

 



• Banking Staff - including operations staff and management,
  any staff included in trade transactions.
• Corporate - Sales, services, FinTech, and industries using SBLCs and Guarantees
• In-house Counsel for financial institutions 
• Lawyers outside of banking institutions dealing regularly with trade transactions
• Government Personnel dealing with regional or global concerns in cross
  border finance
• Industry - Real Estate, Film, and beyond 


What to Expect
• A Dynamic & Instructional environment
• Collegial atmosphere conducive to real conversations
• Gain understanding of future trends as they impact your daily operational work
• A unique cross section of legal, operations, and compliance with a focus on solutions for practical implementation.

Venue Address:

Hogan Lovells 

390 Madison Ave. 
New York, NY 10017

Google Maps Link


Virtual Attendees 

You will receive an email with a link to register for the Zoom attendance of this event in the week leading up to it. It is possible that you will receive an event ticket, which is solely for record keeping. 


Sponsorship Opportunities

Please email Michael Byrne at mbyrne@iiblp.org for more details on the benefits of sponsoring IIBLP events, including seats, visibility, and access to a 'town square' for the industry.



Organizer

organizer

Our Sponsors

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Sponsorship Opportunities

Please email Michael Byrne at mbyrne@iiblp.org for more details on the benefits of sponsorship - including: bulk attendance rate, visibility, flexible display solutions, and more.