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

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

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

We invite you to join us for the 2021 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

Pavel ANDRLE - Czech Rep

Michael AVIDON - USA




Gunnar COLLIN - Sweden

Jason DESROCHES - Canada

Alisa DiCaprio - USA

Frank FORTES - Canada




Andrew Jacobson - USA

Sam Jebamony - USA

Carter KLEIN - USA

Robert MARCHAL - Belgium

Karl MARXEN - Germany



Vin O'BRIEN - Ireland



Harriette RESNICK - USA




Kim SINDBERG - Denmark

Donald SMITH - USA

SOH Chee Seng - Singapore


Hugo VERSCHOREN - Belgium


Nicholas YAREMA - USA



Day One: April 28

Wednesday, 28 April – Day 1 (all time ET/NY time)

8:45 – 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

Moderator: Vin O’BRIEN (China Systems)

Panelists: SOH Chee Seng (IIBLP); Lorna STRONG (HSBC)

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

Moderator: Frank PETRASSI (JP Morgan)

Panelists: Pavel ANDRLE (ICC-CR); Carter KLEIN (Jenner & Block)

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?

Moderator: Vin O’BRIEN (China Systems)

Panelists: Jason DESROCHES (BNC); Don SMITH (Global Trade Advisory); Paul RODER (Moses & Singer)

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

Moderator: Buddy BAKER (Goldman Sachs)

Panelists: Kim SINDBERG (Nordea); Hugo VERSCHOREN (goVer Trade Technologies)

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

Moderator: Paula GREAVES (Consultant)

Panelists: Mitsuko RICHARDSON (Boeing); Carter KLEIN (Jenner & Block)

12:30 – 12:55 | 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


Panelists: Gunnar COLLIN (Enigio); Paula GREAVES (Consultant)

12:55 – 1:00 | Closing Remarks for Day 1

Confirmed Speakers in yellow
Day Two: April 29

Thursday, 29 April – Day 2 (all times EST/NY time)

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 – 9:20 | SWIFT Update

  • Cat 7 Changes Slated for November 2021
  • Message type 765 – SBLC/DG and authentication

Speaker: Robert MARCHAL (SWIFT)

9:20 – 9:40 | ESG and Sustainable Trade Finance

  • ESG Risks and “Green Crime”
  • EBA’s draft RTS on ESG Disclosures
  • Identifying ESG risk via SWIFT KYC Registry

Speaker: Harriette RESNICK (ESG Validation)

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?

Moderator: Hugo VERSCHOREN (goVer Trade Technologies)

Panelists: Buddy BAKER (Goldman Sachs); K Nizardeen (FIB, Dubai/Malaysia); Andrew JACOBSON (Seward & Kissel); Alisa DiCaprio (R3)

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

Moderator: Glenn RANSIER (Wells Fargo)

Panelists: Pavel ANDRLE (ICC-CR); Frank FORTES (TD Bank); Charnell WILLIAMS (Citi)

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

Moderator: Carter KLEIN (Jenner & Block)

Panelists: Michael AVIDON (Moses & Singer); Sam JEBAMONY (JPMorgan); Karl MARXEN (University of Johannesburg); Rebecca FRUCHTMAN (Mayer Brown); Paula GREAVES (Consultant); Jim BARNES (Baker & McKenzie);

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 

Moderator: Lisa CHIN (MUFG)

Panelists: Andrew JACOBSON (Seward & Kissel); Byron McKINNEY (IHS Markit); Lorna STRONG (HSBC); Adam KLAUDER (Guidehouse)

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

Confirmed Speakers in yellow

Presented By:




Sponsorship Opportunities

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