Annual Survey of LC Law & Practice17-18 July 2017

Guarantee & Standby Forum19 July 2017

Letter of Credit Law Summit20 July 2017

Singapore2017 IIBLP Events

• Synthetic/StructuredLCs–Problemsrevealedinrecentcourtcases• RevisingUCP600:Does“No”meanNoinICC-speak?• OriginalLCs,Originalofwhatsent(e.g.,telefax);Isthereasolution?• ICC’sStrictCompliancepaper…strictlyspeaking,thisisnottheanswer!• TheImpactofBlockchainTechnologyonCommercialLCs&eDocuments• IPUs• FraudulentSWIFTLCsviahackers• HanjinBankruptcy:ItsImpact

HolidayInnSingaporeOrchardCityCenter•11CavenaghRd•Singapore229616

Annual Survey of LC Law & Practice

Monday, 17 July 2017

8:30-9:00 Registration & Check-In

11:15-1:00

1:00-2:00

Networking Break

ICC Opinions

Lunch

2:00-3:30 Compliance Update

5:30-6:00 Summary of Critical Issues

• Duediligencebyadvisingandnominatedbanks -Howtohandlecollections? -PaymentofLCorproceedstoa3rdparty -Whatarebanksexpectedtodoregardingfraud?• Iran:avictimofde-risking?• Cuba:OpenforBusinessbutisanyonecoming?• Trends,Developments,andExpectationsfortheFuture

3:30-4:00

Commercial LC Practice Issues

10:45-11:15

9:00-10:45 What’s UP in LCs? And DOWN!

• Doesanominatedbankhaveadutytoforwardpresenteddocumentsinatimelymanner?Grains -Sourceofduty? -Whatifanominatedbankdoesnothing? -WhatwouldaUCPrulesay?• CountingwhenthetimeforrefusalstartsunderUCP600ifadocumentisreceivedonthefirstdayofaweekend?Hong Kong Huihuang

• ThePlaceofpresentation:Doesdesignatinganotherplacegiverise to jurisdiction?Beneficiarypresentstoanotherofficeofissuer(ornominatedbank)insameordifferentcountryactingwithorwithoutauthorityand/orinthenameofthedesignatedoffice

Networking Break

4:00-5:30

ReviewingFinalOpinionsfrom2016|RecentlyDecided2017Opinions|Makeyourvoiceheard!

Day 1

HolidayInnSingaporeOrchardCityCenter•11CavenaghRd•Singapore229616

Annual Survey of LC Law & Practice

Tuesday, 18 July 2017

9:00-9:45

9:45-10:15

The LC Year in Review

12:30-1:30

10:15-12:30

1:30-3:00

Networking Break

Lunch

• CKT Marine Services –IsthiscaseaDutchTreatorThreat?• In re Stone & Webster–Bankruptcy&LCProceeds• Navana Logistics–FreightForwarderWon’tStandforIt!• Arch Specialty Insurance Co.–Howlongtore-present?• Hana Bank–ExpressRelease• Grains–Arenominatedbanks“agents”?

Legal Cases

5:00-5:30 Summary of Critical Issues

3:00-3:30 Networking Break

3:30-4:15 Standby and Independent Guarantee Briefing: A New Approach • “Standard”InternationalDemandGuaranteePractice?• ChineseIndependentGuaranteeProvisions• ISPCommentaryRevised• ISP98StandbyCasesincreasing

• CoastlineSolutions• DCW:TheTopIssuesof2016• SWIFTUpdate

Top Legal Practice Lessons• ImpactofFraudbyTransferoronTransfereeBeneficiary• ProvidingintheLCForAlternativePaymentforGoods:Howtostructure?SAMIR• Non-DocumentaryConditions?Hong Kong Huihuang• ExpiryinIndia:Union of India• StatuteofLimitations/Prescription:Howtohandle?Indofric• ForgedLCs:Extentoftheproblemandreactingtoit:Galeana• FATCA• EUBail-InRule–TheFirstYear

Day 2

4:15-5:00 The Concept and Opportunity of the XLC

8:30-9:00

9:00-9:45

9:45-10:30

Check-in and Registration

11:30-11:45

11:00-11:30

What is it? Classification of UndertakingsCasesthatstruggletomakesenseoutofvariousundertakings:• Laing O’Rourke(Australia)• Ottoway Engineering(Australia)• Bitumen Invest(England)• CSSC Hangpu Wenchong Shipbuilding(HongKong)• Klettenberg(Australia)• Mutual and Federal Ins. Co. (S.Africa)• Standard Chartered(HongKong).

Q: Are they Dependent or Independent? You tell us!

Compliance

Networking Break

Mandated Government Forms for Independent Guarantees & Standbys

Is the standard for Compliance in Standbys and Independent Guarantees different than for Commercial LCs? • Sena Trucking(S.Africa)• MUR Joint Ventures(England)

Other cases on Compliance:• Republic Steel(U.S.)• Lukoil Mid-East(England)• Simic(Australia)(thenameofthebeneficiary)• National Infrastructure v. Banco Santander(England)(“dueandowing”indemand)• RCR(Australia)(entitlementtomakeademand)• Arch Specialty Ins. (U.S.)(authentic,registeredmail,&re-presentation)

RecentexperiencesinSingaporeandwiththeUSEPA.LessonsandStrategies.

11:45-12:15 Automatic Extension ClausesTrapsandalternatives.

12:15-1:00 The New Chinese Independent Guarantee ProvisionsInsightintotheProvisionsthatwillgovernChineseIndependentGuaranteeCases

10:30-11:00 SWIFT MT 760 Format Revised

HolidayInnSingaporeOrchardCityCenter•11CavenaghRd•Singapore229616

Guarantee & Standby Forum

Wednesday, 19 July 2017

2:00-3:30 Injunctions, Standards, and Enjoining Counter Undertakings

3:30-4:00 Networking Break

5:30-6:00 Summary of Critical Issues

Cases about Injunctions:• PetroSaudi Oil Services (England) (could beneficiary made good faith claim following adversearbitralaward?)

• Ottoway Engineering(Interpretingtheunderlyingtransactiontodeterminewhetheraninjunctionisappropriate)

• CSSC Huangpu Wenchong Shipbuilding(guaranteesprovidingforarbitration:ondemand)• National Infrastructure Development(injunctiondenied).

Cases about Enjoining Counter Undertakings:WhatisneededtoenjoinpaymenttoLocalBank?• CKT Marine Services, BV(Netherlands)• Sena Trucking (S.Africa)

False Documents & Forged LCs:• U.S. v. Musgrave(U.S.)• Dorchester(U.S.)• Galeana Telecom(U.S.)

4:00-5:30 Court Cases & Legal IssuesThe Positive & Negative Stipulations Game: thedoctrines,thecases,&thereaction.• CKR Contract Services(Singapore)

Post Honour Remedies:• National Union Fire Ins.(U.S.)(replacementofstandby)(failuretoreturnoriginal)• Jabneel Devel. Inc.(Canada)(proceedsorderedreturned).

Other Cases: • Arch Speciality Ins.(U.S)(re-presentationanddoubleissuance)• Griffin Energy Grp. (Australia)(theSequelreexpiration).

1:00-2:00 Lunch

HolidayInnSingaporeOrchardCityCenter•11CavenaghRd•Singapore229616

Guarantee & Standby Forum

8:30-9:00

9:00-10:30

Check-in and Registration

11:00-12:30

10:30-11:00

Singapore LC Cases from an International Perspective

Rajah&TannSingaporeLLP•9BatteryRoad#25-01•Singapore049910

Letter of Credit Law Summit

• Grains• Unconscionability• CKR(negativestipulations)

Networking Break

Independent Guarantees & Standbys

Thursday, 20 July 2017

3:30-4:30 Drafting and Practice Issues

3:00-3:30 Networking Break

• VaryingthePRCIndependentGuaranteeProvisionsinthetextofanIndependentGuaranteeorbyadoptionofpracticerules:transfer,applicablelaw,forum/jurisdiction;reimbursement;standardofexamination,etc.

• ConsiderationsinusingURDG758andmodificationofitsprovisions:fromtheperspectiveoftheissuerorthebeneficiary

• TheModelABSForm

12:30-1:30 Lunch

1:30-3:00 Issues Raised in Recent Case Decisions• DutiesofaNominatedBank:Grains• PostHonourRemedies:Jabneel• InjunctionreCounterUndertaking:CKT• Standardofcomplianceforstandbys/independentguarantees:isitdifferentthanforLCs?Sena

Trucking

• ConsiderationsinDraftinganAutoExtensionClause• Article55ofBRRD(2014/59/EU)• Confirmations:Moreoptionsthan“added”• Replacingastandby/independentguarantee:Nat’lUnion• LCTermsinaContract:considerations

4:30 Reception

Invited Panelists

Panelist participation subject to change. No endorsements of any sort by organizations are made or implied.

James BYRNE is the Director of the Institute ofInternationalBankingLaw&Practice,Inc.

Christopher S. BYRNES is Executive Editor ofthe LC industry’s monthly journal publication,DocumentaryCreditWorld.

Leng Sun CHAN heads the Dispute Resolutionpractice in Baker &McKenzie.Wong & Leow. He isBaker & McKenzie’s Global Head of InternationalArbitration.

Chi Hoong CHANGistheRegionalLeadCounselforHSBC’sGlobalTradeandReceivablesFinance(GTRF)businessinAsiaPacific.

Angelia CHIA is the Head of Legal, Trade forStandardCharteredBank.

Alan DAVIDSON isasolicitorandbarristeroftheSupremeCourtofNewSouthWalesandoftheHighCourtofAustralia.HeisaSeniorLecturerattheTCBeirneSchoolofLaw,UniversityofQueensland.

Lionel DE SILVA hasaccumulatedover30yearsoftradeoperations/tradeproductexperiencewithSingapore’stoplocalbanksandinternationaltradebanks.

Derek ENNIS is CEO of Coastline Solutions, acompanyspecialised in thedeliveryof thehighestquality online training and information systems intheareasofInternationalTradeandArbitration.

Charmaine FU is a partner at Ang & PartnersAdvocates & Solicitors, with a focus on shippingandtrade.

Francis HOisinchargeoftradefinanceback-endoperationsatMaybankinSingapore.

Professor Katsuto IIDA is a retired Professor ofLaw, Faculty of Law and Policy, at TezukayamaUniversity(Japan).

Asmita JAMKHANDIKAR is a ComplianceOfficer with theCorporate & Investment Bank atJ.P.Morgan.Hari JANAKIRAMANisSeniorManager/Head-TechnicalAdvisory&SanctionsforAustraliaandNewZealandBankingGroupLtd.

Saibo JINisalawyer,litigator,andarbitratorofPRC,andapartneratJinchengTongda&Neal.

Richard KUEK isCo-founderandpartnerof thefirmGurbani&Co.LLC.

Bessie LEE hasmorethan30yearsofbankingexperienceinrolesspanningthefront,middleand back offices. She currently serves asAdvisorforOCBCBank’sQualityandServiceExcellenceDivision.

Karl MARXEN istheDirectorofLegalResearchatIIBLP.HehasstudiedindependentguaranteepracticeandabusivedrawingsundervarioussystemsincludingEngland,Germany,andSouthAfrica.

Samir MATHUR is the Regional Head ofGlobalTradeRiskforAsia-PacificinchargeofriskmanagementfortradefinanceproductsatJ.P.Morgan.

Invited Panelists

Panelist participation subject to change. No endorsements of any sort by organizations are made or implied.

Scott MEYERN isHeadofTrade, Lending&FX, and Commercial Banking Operations atStandardCharteredinSingapore.

Dora NEO is an Associate Professor at theFacultyofLaw,NationalUniversityofSingaporeandDirectorofitsCentreforBanking&FinanceLaw.

Vincent O’BRIEN is a practitioner in theFinanceofInternationalTradeandDocumentaryCredits.

Ramaprasad PERUMBALAisVice-President,RegionalTradeFinanceOperationsatDeutscheBank.

Gabriel SHAM isconsultantinSingaporeandactiveintradefinancetraining.

SOH Chee Seng is Technical Consultant,Trade Finance Issues for the Association ofBanksinSingapore.

Angeline TAN represents SWIFT in TradeServices SEG (Standards Evaluation Group)and Trade Finance Maintenance WorkingGroup.

TOH Kian Sing isaPartnerandHeadoftheShipping and Admiralty Practice Group ofRajah&TannLLP.

Boon-Teck YEO is Director and AssistantGeneralCounsel in theLegalDepartmentatBankofAmericainHongKong.

Cooperative Sponsor

TheAssociationofBanksinSingapore(ABS)playsanactiveroleinpromotingandrepresentingtheinterestsofthecommercialandinvestmentbankingcommunityinSingapore.Establishedin1973,ithasoverthepast40years,representedtheinterestsofitsmembersinthroughstrategicengagementwithitsstakeholders–banks,regulatorsandcustomers.TheAssociationalsoworkswithitsmemberstoestablishcommongroundsthroughbenchmarkingandsettingbankingguidelinesthatareinlinewithinternationalbestpracticesaswellasonprojectsthatareofmutualbenefittofacethechallengesofthefinancialandbankingcommunityinSingapore.TheABSalsoworkscloselywiththeauthoritiesinsupportingtheirroleindevelopingandmaintainingasoundfinancialsysteminSingapore.Today,ABShasamembershipof142local/foreignbanksandfinancialinstitutions.Further information on ABS is available on the website: www.abs.org.sg.

Co-Sponsor

J.P. Morgan is a premier corporate and investment bank with a full suite of global financial services and capabilities. With a client base that includes the world’s most important corporations, governments, financial institutions, pensions, sovereign wealth organizations, states and municipalities, we offer strategic advice and deliver banking services in more than 100 countries globally

For more than 200 years, J.P. Morgan has helped clients make trade payments, access liquidity, and manage risk. Global Trade & Loan Products, a division of J.P. Morgan’s Corporate & Investment Bank, provides market-leading traditional trade, supply chain finance, export finance, and information management solutions to corporations and financial institutions worldwide. Our institutional strength, practical expertise, comprehensive technology, and unparalleled network enable us to deliver powerful global solutions when and where our clients need them.

For more information, visit us at www.jpmorgan.com/trade

Coastline Solutions is the technology partner of the ICC responsible for the delivery of online training and information services. Banks, traders, logistics companies and law firms from over 100 countries use these services to save time, reduce costs, and keep their staff up to date with the latest international trade practices. Coastline’s services include:   *New*Going Global - ICC Training on Trading InternationallyAvailable in English, Spanish and Portuguese *New*URBPO Online Training: Online training in the new BPO Rules *New*ISBP Online: Comprehensive training in the revised ISBP 745 Collections Online Training: Comprehensive training in collections and URC 522 Mentor 600: Comprehensive training in letters of credit and UCP 600 DC Master: Advanced training in letters of credit ISP Master: Advanced training in ISP98 and independent undertakings URDG Master: Comprehensive training in Demand Guarantees and URDG 758 Incoterms 2010® Online Training: Online Training in the revised Incoterms ICC Arbitration: Online Training in ICC Rules of Arbitration

Contact: www.coastlinesolutions.com

Co-Sponsors

Co-Sponsors

Documentary Credit World (DCW) is the world’s only monthly journal dedicated to the field of letter of credit law and practice. Published in partnership with BAFT, DCW is linked to the most important players in the industry to bring its readers valuable information and the latest news of developments affecting their LC operations and business. From its focus on new rules and regulations involving commercial and standby LC practice to its regular discussion of recent court cases, DCW covers a host of topics and is essential for industry professionals. In addition to individual subscriptions, licenses for groups are available. To view our latest issue’s Table of Contents visit www.doccreditworld.com or for more information, contact DCW at info@ doccreditworld.com

www.georgemasonjicl.org

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Annual SurveyUSD 765 Regular RateUSD 545 Group Rate (3 or more)

Guarantee & Standby ForumUSD 385 Regular RateUSD 329 Group Rate (3 or more)

LC Law SummitUSD 385 Regular RateUSD 329 Group Rate (3 or more)

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CONTINUING EDUCATION CREDITS

Annual SurveyCDCS: 13 PDUs Awarded

Guarantee & Standby ForumCDCS: 7 PDUs AwardedCSGP: 7 CEUs Awarded

LC Law SummitCDCS: 6 PDUs Awarded