Preliminary schedule subject to change
8:30 – 9:00 Registration & Check-In
9:00 – 9:10 A Word from Our host
9:10 – 9:30 Introductions & Welcoming Remarks
9:30 – 10:30 Emerging Trends & Strategic Insights in Treasury, Working Cap, and Risk Management
- Email Presentation on Standbys
- In Case You Missed Them: ICC DocDex Decisions Applying the ISP98
- UCP600 Standbys: Use Sparingly, but When?
- Standby & Guarantee Use in Latin America
- Basel & Capital Adequacy Requirements
- Standbys and Captive Insurance
Moderator: Michael AVIDON (Moses & Singer)
Panelists: Glenn RANSIER (Wells Fargo); Rebecca FRUCHTMAN (Mayer Brown); Buddy BAKER via Zoom
(Goldman Sachs); Miguel BUSTAMANTE (ICC Mexico); Kristine SIEBEL (Ret’d SocGen)
10:30 – 10:45 Coffee & Networking Break
10:45 – 11:30 Demystifying AI for Trade Finance
The value that ChatGPT and AI large language models bring to other industries is immense, but their use in trade and capital markets remains limited. Our panelists will walk us through months of testing and research, demonstrating how AI can be trained to make our industry more efficient, cost-effective, and productive.
Panelists: Lorna STRONG (consultant) and Michael LEHOTZKI (HSBC)
11:30 – 12:00 The Swift Rundown
The Swift Standards Release 2024 involves no update for trade finance, but several key decisions are now pending that will shape the future of Category 7 and MT 798 messages. The implementation proposal will be addressed as well as the latest on Swift’s API for guarantees.
Speaker: Mukta KADAM via Zoom (Swift)
12:00 – 12:10 Coffee & Networking Break
12:10 – 1:00 Standby LC Rulings Unpacked
- Eurobank Ergasias S.A. v. Bombardier Inc. (Knowledge of fraudulent demand by local guarantee beneficiary taints counter guarantee beneficiary’s demand, justifying permanent injunction, Canadian Supreme Court affirms)
- Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. (injunction application denied, affirmed on appeal)
- The Milky Whey, Inc. v. HSBC Bank USA, N.A. (Beneficiary failed to present original amendment; wrongful dishonor complaint dismissed)
- Indian Overseas Bank v. Seabulk Systems Inc. (Reimbursement claim under advanced payment guarantees)
- Lummus Technology Heat Transfer B.V. v. Credit Agricole CIB (Court enjoined payment as a fraud given force majeure event that contract excused performance but without Russian confirming bank being named as a party)
Moderator: Carter KLEIN (Jenner)
Panelists: Frank FORTES (TD); Rebecca FRUCHTMAN (Mayer Brown); Rick MARTINEZ (Hogan); Robert McFARLANE (Moses & Singer); Paul RODER (Moses & Singer); Matt KOZAKOWSKI (IIBLP)
1:00 – 2:00 Lunch Break
2:00 – 2:45 Risk Distribution & Balance Sheet Management
Buying, selling and sharing risk: meeting regulatory requirements, managing cost of funds, and growing your business.
Moderator: Lorna STRONG (Consultant)
Panelists: Mike AVIDON (Moses & Singer); Nate HUMMEL (Allianz); Guarav MATHUR (DB)
2:45 – 3:15 Drafting a Digital Standby: From eIssuance to eNotices
What terms should be in an SBLC for electronic issuance, presentments, confirmations, transfers, assignments and notices?
Moderator: Buddy BAKER via Zoom (Goldman Sachs)
Panelists: Sam JEBAMONY (JPM); Glenn RANSIER (Wells)
3:15 – 3:30 Coffee & Networking Break
3:30 – 4:00 ISP98: Going Strong, but is it time to freshen it up?
ISP98 is the industry standard rules for standby LCs. The panelists will discuss how the rules have shaped standby practice the past 25 years, and think about challenges and opportunities for the next 25 years.
Moderator: Kristine SIEBEL (ret’d, SocGen)
Panelists: Frank PETRASSI (JPM); Dennis NOAH (IIBLP)
4:00 – 4:10 Coffee & Networking Break
4:10 – 4:50 Ask Us Anything: Expert Q&A
The panel will start by discussing challenging practice developments they’ve encountered and viable remedies. Then it’s your chance to ask the panel of experts thorny questions about situations you’ve seen in practice.
Moderator: Frank FORTES (TD)
Panelists: Paul RODER (Moses & Singer);
4:50 – 5:00 Summary of Critical Issues, Raffle Draw, and Closing Remarks