8:30 – 9:00 Registration & Check-In
9:00 – 9:30 Welcome & Introducing Yourselves
Welcome Remarks: Michael BYRNE (IIBLP)
9:30 – 10:30 2023 News & Trends in Treasury & Working Capital
- ChatGPT – Does AI have enough “I” for Treasury Products?
- Basel Capital Requirements Impacting Standbys & Demand Guarantees
- The Utility of Commercial Standbys
- PRC Judicial Interpretation of Independent Guarantees & Right of Recourse
- Standing Up for Standbys
- ISP Model Forms: How are they being used?
10:30 – 11:00 Group Picture, Coffee & Networking Break
11:00 – 12:00 Pivotal Cases Impacting Guarantees & Standbys
- TA Private Capital Security Agent Ltd. v. UD Trading Group Holding Pte Ltd. [Singapore]
Was guarantee in question independent or dependent?
- Sunrise Industries v. PT OKI Pulp [Singapore]
- Wellington Cantonment Board v. Gharpure Engineering & Constructions [India]
Whether draw on bank guarantee would cause irretrievable injury and injunction is justified.
- Windsor Township v. Tompkins Financial Corp. [USA]
Beneficiary presentation of standby LC copy instead of original LC as required by the credit.
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 – 13:30 Lunch Break
13:30 – 14:15 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?
14:15 – 15:00 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
15:00 – 15:30 Coffee & Networking Break
15:30 – 16:10 ISDGP at Two Years Old
- Are banks and guarantee users familiar with it?
- Have practice habits improved or stayed the same since early 2021?
- Are there any ISDGP paragraphs that differ from practice norms seen in SE Asia?
16:10 – 16:50 Traps & Challenges in Standby & Guarantee Practice
- Confirmation of Guarantees -- URDG does not provide for it. If a guarantor or beneficiary would want such an option, is there a way it could be done?
- Counteracting Counter Undertaking Confusion
- Is it Really a Force Majeure Event?
- When is a Guarantee actually “issued”?
16:50 – 17:00 Summary of Critical Issues, Raffle Draw, and Closing Remarks