2021 Online Annual LC Survey West | Americas & Europe | 7CPD

2021 Online Annual LC Survey West | Americas & Europe | 7CPD

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2021 Online Annual LC Survey West - Americas & Europe | 7 CPD
28-29 April 2021

We invite you to join us for the 2021 Online Annual LC Survey West - Americas & Europe to be held online on April 28-29 from 09:00-13:00 ET/NYT both days.

For 30 consecutive years, IIBLP has brought together the top minds in international banking law, practice, and policy for this unique educational conference. This year due to COVID-19, we will be holding this event virtually over two half-day mornings. 

Who Should Attend 

• Banking Staff - including trade operations staff and management,
  any staff included in trade transactions.
• Risk & Compliance Personnel 
• In-house Counsel
• Lawyers outside of banking institutions dealing regularly with trade transactions
• Corporate - Sales, services, FinTech, and industries involved in trade finance
• Government Personnel dealing with regional or global concerns in cross
  border finance

What to Expect

• A Dynamic & Instructional environment

• Predictions and advice from the world’s top operational, technical and legal experts
• Gain understanding of future trends as they impact your daily operational work
• A unique cross section of technical, legal, operations, and compliance with a focus on solutions for practical implementation.

Additional Resources

UCP600 Article 36: Force Majeure (ebook)
IIBLP Sanctions Clause
ISP98 Official Commentary

Event will be held on Zoom. Please ensure you can use this software. For inquiries contact
Day One: April 28

Wednesday, 28 April – Day 1

8:30 – 9:00     Online Check-In and Entry to Day 1 Session

9:00 – 9:10      Welcome and Introduction to Day 1

Welcome Remarks: Michael BYRNE (IIBLP)

9:10 – 9:50      The Brave New (Normal) World for Global Trade
  • Where We are & Where We’re Headed: Light at the End of the Long, Dark COVID Tunnel?
  • Force Majeure & ICC Rules: Lessons Learned
  • Alleged Unfair Standby LC Draws
  • Brexit’s Impact on Trade Finance
  • Ripe or Hype? The Market for Secondary Risk Participation in Trade Finance Deals
  • The Fallout from Singapore’s Commodity Financing Scams


9:50 – 10:30    A Sign of the Times: Dealing with the Complexities of Signatures and Authentication
  • Signatures vs. Authentication: Lines Blurred
  • Documents Deemed to Have been Signed
  • Digital Negotiable Instruments
  • Risks & Benefits of Using Platform-Based Solutions for Digital Signatures


10:30 – 10:40  Virtual Coffee Break
10:40 – 11:30  Commercial LC Cases and Practice Considerations
  • Negotiating Documents Based on Fax Copies
  • Acceptability of Freight Forwarder’s Bill of Lading
  • Court’s Acceptance (or not) of ICC Official Opinions as Evidence
  • Drafts: Where are They Still Used and Why?


11:30 – 12:00  Confronting LC Practice Controversies
  • Significant ICC Final Opinions from Fall 2020 and Spring 2021
  • What happens when Applicant & Beneficiary insist on use of transfer request form that’s not aligned with industry best practices?
  • Banks are being requested to issue commitments to issue LCs rather than the LCs themselves. What are the risks of doing so?
  • Country of Origin vs. Produced in [Country]
  • Import LCs with Auto Escalation and De-escalation Clauses and Tolerance Allowances
  • Back-Dated Bills of Lading


12:00 – 12:10  Virtual Coffee Break

12:10 – 12:30  Applicant’s and Beneficiary’s Corner

How LC Banks can Better Serve Their Customers


12:30 – 13:00  The Perils and Potential of Automating Document Examination
  • Examination Efficiency: Striking the Right Balance between Speed vs. Skill
  • Smart Use of OCR, AI, and Machine Learning
  • Third Party Documents: Digital or Not?
  • Regulatory Issues


Day Two: April 29

Thursday, 29 April – Day 2

8:30 – 9:00      Online Check-In and Entry to Day 2 Session

9:00 – 9:05      Welcome and Introduction to Day 2

9:05 – 9:40      SWIFT Update
  • Cat 7 Changes Slated for November 2021
  • SWIFT KYC Registry


9:40 – 10:20    Digitalisation of Trade – What’s Advancing and What’s Idling?
  • Blockchain Platforms for LCs
  • Fintechs and Financial Institutions Collaboration
  • Mixed Presentations
  • Enforceability of Electronic Bills of Lading
  • Uniform Rules for Digital Trade Transactions (URDTT): How will they work in practice?


10:20 – 10:30  Virtual Coffee Break

10:30 – 11:10  Introducing ISDGP: What You Need to Know about the Industry’s New Practice Standards
  • “Authenticated”
  • When is a Guarantee Issued?
  • Advising Bank as Agent of Guarantor
  • Standard of Determining Compliance
  • Time Frame for Making of Payment


11:10 – 11:50  Standby & Guarantee Cases and Practice Considerations
  • LCs in Commercial Bankruptcies
  • Reduction Clause in URDG-Issued Advance Payment Guarantee
  • Between Reasonable and Unreasonable: Assessing the “It Depends” Territory of ISP98 Rule 5.01


11:50 – 12:00  Virtual Coffee Break

12:00 – 12:50  Sanctions & Scams
  • Conflicts between US Sanctions and China & Other Jurisdictions
  • Applicant Sanctioned, Now What? Implications for Confirming and Negotiating Banks
  • PPE and COVID Vaccine-Related Scams and Cyberattacks


12:50 – 13:00  Summary of Critical Issues & Closing Remarks


Presented By:




Sponsorship Opportunities

Please email Michael Byrne at for more details on how to sponsor this trade finance event.