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Banking Practice and Finance
19 Articles written by key experts from around the globe including: James G. Barnes: TT Reimbursement Misunderstood James E. Byrne: Letters of Credit Abhinayan Basu Bal: Can UNCITRAL Instruments Advance Supply Chain Finance to Benefit Small and Medium Enterprises? Charl Hugo: Demand Guarantees: Insights From the People’s Republic of China Michelle Kelly-Louw: Construing Whether a Guarantee is Accessory or Independent is Key Thandiwe Legwaila: Trade Digitization: Developments and Legal Aspects Jacob Manning: Non-Bank Issuance of LCs: Permitted, but Perilous in Some Instances Karl Marxen: Current Issues in the Law Relating to Independent Guarantees, Performance Bonds Payable on Demand, and Standby Letters of Credit – Perspectives From the United States, Australia, Singapore and Canada David Meynell: Digitalisation and Trade Finance: What’s Next? David Morrish: The Beauty of Standby Letters of Credit: Not Just in the Eye of the Beholder Bob Ronai: My Opinion About the Opinions and the Future of Rules for Documentary Credits Kim Sindberg: The Tipping Points of International Trade Chang-Soon Thomas Song: Can a Letter of Credit be Issued Which Requires a Copy Bill of Lading? Zhida Yan & Yong Chen: Clarification Needed for Critical Issues Regarding Bill of Lading Copies 94 CASE SUMMARIES FROM DECISIONS RENDERED IN 2017 INCLUDING: China Construction Bank v. Shanghai Pudong Development Bank (Impact of LC fraud on a negotiating bank discounting accepted bills of exchange under LCs) Deutsche Bank v. CIMB Bank (Confirming Bank and Issuing Bank’s differing interpretations of UCP600 Art 7(c)) Kolmar Group v. Jiangsu Textiles Industry (Enforcement of a Singapore judgment by a Chinese court) Sincore International v. RBRG Trading (When forged documents do not matter) Toyota Tsusho (HK) Corp. v. Chimei Innolux Corp. (Remedies for a forged signature) So Sau v. DBS Bank (Issuing bank’s duty to counsel applicant regarding LC terms) Kawasaki Heavy Industries v. Laing O’Rourke Australia Construction (Link between independent undertaking and suretyship undertaking) SNC-Lavalin v. BNP Paribas (Applicant of Counter Guarantee sues to enjoin payment to Local Bank) ICBC v. China National Technical Imp. & Exp. Corp. (Fraud article of PRC Independent Guarantee Provisions) In re Factory Sales & Engineering, Inc. (Commercial standbys and detailed drawing statements) 10 PRACTICE REPORTS INCLUDING: BAFT and IIF Joint Committee Letter Combatting Trade Based Money Laundering: Rethinking the Approach Guiding Principles for Sanctions Issues Related to Shipping and Financial Products ICC Decision in Respect of A Revision of UCP 600 ICC Global Survey 2017 ICC Trade Register Report: Global Risks in Trade Finance ISP Official Interpretation 1.01-1 ISP Official Interpretation 1.01-2 Summary of the April 2017 ICC Banking Commission Meeting “The Future of Trade Finance: Traditional,Technological and Transformational” 5-6 April 2017 • Jakarta, Indonesia Summary of the November 2017 ICC Banking Commission Technical Meeting 8 November 2017 • London, UK STATUTES & GOVERNMENT ACTIONS IIBLP Comment on EPA Proposed Regulation Under Secretary Sigal Mandelker Speech before the American Bankers Association & American Bar Association Financial Crimes Enforcement Conference