March 2012

Americas Annual Survey of LC Law & Practice

-New York

-15-16 March 

Hosted by Bank of America Merrill Lynch

July 2012

Hong Kong Guarantee & Standby Forum 

Sponsorship Opportunities Available

Hong Kong Annual Survey of LC Law & Practice 

Sponsorship Opportunities Available

SE Asia Annual Survey of LC Law & Practice

Sponsorship Opportunities Available

SE Asia Guarantee & Standby Forum

Sponsorship Opportunities Available

Europe Annual Survey of LC Law & Practice

Europe Guarantee & Standby Forum

Middle East Guarantee & Standby Forum

Middle East Annual Survey of LC Law & Practice

Americas Standby & Guarantee Forum

Americas LC Law Summit

Registration is now open for the 2012 Americas Annual Survey of LC Law & Practice conference which will take place on 15-16 March 2012 in New York City. Hosted by Bank of America Merrill Lynch and conducted by IIBLP, the 2012 Americas Annual Survey conference offers the ideal opportunity for interactive discussion between world-class experts and leading bankers, lawyers, corporates, and other experienced professionals on important matters influencing Commercial LCs, Standby LCs, and Independent Guarantees.  For more information and to register, click here for the 2012 Americas Annual Survey flyer.

On 3-4 November 2011 in New York City, IIBLP Director Jim Byrne met with SWIFT representatives and other banking professionals. The group is moving towards finalization of SWIFT formats for demand guarantees and standby letters of credit that will replace MT760 with messages that will move considerably towards the electrification and standardization of standbys and demand guarantees. One important aspect of this process is the option of using the ISP98 forms.

On 20 October 2011, ICC Japan organized a seminar in Tokyo conducted by IIBLP Director Jim Byrne that formally introduced the Japanese translation of the ISP98 rules.  The event attracted over 100 delegates. Highlights of the discussions included major points in ISP98. To mark the occasion, Professor Byrne presented to Japanese bankers a paper highlighting the versatility of the rules. The first part of this paper was published in the October 2011 issue of Documentary Credit World. Discussions with translators included issues for revision and difficulties in translating the text of ISP98.

Prior to last month's ICC Banking Commission meeting in Beijing, ICC China and IIBLP collaborated to hold the 2011 Survey of Current International Letter of Credit and Demand Guarantee Practice conference on 24-25 October 2011. The 2011 Survey in Beijing was led by IIBLP Director Jim Byrne, IIBLP Associate Director Soh Chee Seng, and Vin O'Brien. The event attracted over 200 delegates. Highlights of the discussions included Current UCP600 issues, Recent Chinese LC Cases, and key differences between UCP600, ISP98, and URDG 758.  

For the fifth consecutive year, Bingham McCutchen LLP hosted the Americas Standby and Guarantee Forum and the Letter of Credit Law Summit in New York City last month. Delegates to this year's annual events included specialists from the banking, legal, corporate, and academic sectors attending from Australia, Canada, Mexico, Venezuela, and several US states.

With the completion of its October events in New York City, IIBLP concluded its 2011 Event Calendar. Individuals unable to attend an IIBLP event in 2011 can still purchase conference handout materials from any IIBLP programme held during the year. For more information, contact info@iiblp.org.

On 1 November 2011, The George Mason University School of Law's Journal of International Commercial Law sponsored a lecture by Dr. Alan Davidson of the University of Queensland (Australia) held at the GMU Law School's campus in Arlington, Virginia. The topic of Dr. Davidson's talk was exceptions to the independence principle based on unconscionability. Following his 40-minute lecture, a discussion period led by Davidson, Professor Byrne, Dennis Noah, a prominent LC banker, and Lee Davis, an attorney with the US Treasury, ensued with the audience of 30 students in attendance.

To mark the occasion of formal release of the Japanese translation of the ISP98 rules, DCW Editor-in-Chief James E. Byrne presented to Japanese bankers a paper highlighting the versatility of the rules. The first part of his paper appears in the Oct DCW edition. The issue also discussion of a recent hot topic concerning Beneficiary presentation to a bank authorized to confirm. Among other content: summaries of two major court cases from England involving Performance Bonds; Mr. JIA Hao's comments on draft ICC Opinions prior to the October 2011 meeting; and the latest LC statistics for non-US banks. The TOC of the Oct 2011 issue is available by clicking here.

If you aren't subscribed to DCW you aren't getting the latest news, updates, cases, and statistics about Letters of Credit.  For subscription information and to request your free sample copy, contact info@doccreditworld.com  

The IIBLP holds seminars and conferences all over the world.  If you have colleagues and co-workers in Asia, the Americas, the Middle East, Europe, or anywhere else in the world, forward this to them!  When they sign up for LCUpdate, they will receive a version specially tailored to their region, keeping them informed of the latest events near them!