8:30 – 9:00 Registration & Check-In
9:00 – 9:10 Welcome from our Host:
Rick MARTINEZ (Hogan Lovells)
9:10 – 9:30 Welcome & Introducing Yourselves:
Michael BYRNE (IIBLP)
9:30 – 10:30 2023 News & Trends in Treasury & Working Capital
- Basel Capital Requirements Impacting Standbys & Demand Guarantees
- PRC Judicial Interpretation of Independent Guarantees & Right of Recourse
- ISDGP at 2: Have Practice Habits Improved, Stayed the Same, or Regressed?
- Standbys & Guarantees – South of the Border
- Bank closings and “place of presentation” and impact on standbys
- Compliance considerations
- Backdating standbys
- Insurance & reinsurance “risk weighted assets”
Moderator: Michael AVIDON
Panelists: Miguel BUSTAMANTE via Zoom (ICC Mexico);
10:30 – 11:00 Coffee & Networking Break
11:00 – 12:15 What the Courts are Saying about Standbys
- Celestial Aviation
- Strabag, spa v. Credit Agricole
- Unicredit Bank AG v. EuroNav NV (B/L case)
- Chian Teck Realty v. SDK Consortium [Singapore performance bond]
- Beneficiary presentation of standby LC copy instead of original LC as required by the credit.
Moderator: Mike AVIDON (Moses & Singer)
12:15 – 12:45 SWIFT MT Update & The Future of Trade Messaging
What’s Swift Standards Release 2023 all about and its impact? Update on the progress Swift has made on APIs for Trade Finance.
Speaker: Mukta KADAM via Zoom (Swift)
12:45 – 1:45 Lunch Break
1:45 – 2:15 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? Topics include: silent confirmations and when do corporates want them.
Moderator: Kristine SIEBEL (ret’d SocGen)
2:15 – 3:00 Flipping the Switch: Digitalisation of Standbys & Guarantees
- 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
Moderator: Michael BYRNE (IIBLP)
Panelists: Fabian GUEVARA (JPM);
3:00 – 3:30 Coffee & Networking Break
3:30 – 4:10 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.
Panelists: Kristine SIEBEL (ret’d SocGen); Frank PETRASSI (JPM)
4:10 – 4:50 Opportunities & Challenges in Practice
- The “2-in-1” Standby: Can a Bid Standby become a Performance Standby and Work Properly?
- Does EXIM LC Insurance Cover When There is a Disputed/Questionable Discrepancy and Issuer Refuses to Reimburse the Confirmer?
- Backdating of standbys
- Insurance/Reinsurance and risk weighted assets
4:50 – 5:00 Summary of Critical Issues, Raffle Draw, and Closing Remarks