Information - The Institute of International Banking Law & Practice

LondonAnnual Survey ofLC Law & PracticeGuarantee &Standby ForumWhere the LC WorldComes TogetherThe Place to Talk“Guarantees”22 April 2013 23 April 2013CDCS Specialists Will Earn 6 PDUs for Each EventInstitute ofInternationalBankingLaw & Practicewww.iiblp.org • info@iiblp.org

2013 London Annual LC Survey - 22 April 2013London Annual Survey Program *When: Monday 22 April 2013Hosted by: CMSHeld at: Mitre House160 Aldersgate Street, EC1A 4DD London, England8:30–9:00 Registration & Check-InMonday, 22 April9:00–10:30 Hot Topics (and a Few That are Smoldering)• ISBP 2013: The Outcome of the ICC Vote & Ramifications for the Future• The Product and the Rules: BPO + URBPO = A Formula for Success?What is the Bank Payment Obligation and Will It Work?• and More!10:30–11:00 Networking Break11:00–11:30 LC Compliance & Sanctions ReviewRecord Fines and Their Implications11:30–12:00 The LC Year in Review• SWIFT• ISP98 Forms• Basel III12:00–12:30 Transfer and Transferees• What Rights does a Transferee Beneficiary have against the Transferring Bank? Againstthe issuer? (Euroma)• Can an Issuer Refuse to Effect a Transfer If It has Approved the Transferring Bank?(Networks USA)12:30–1:30 Lunch1:30–3:00 Recent ICC Banking Commission Opinions: The Good, the Bad,and the BizarreThe panel will discuss and analyze the significance of select opinions finalized at the Fall 2012ICC Banking Commission meeting and draft opinions proposed for the Spring 2013 ICC BankingCommission meeting.* Items on this program are subject to change without notice as new topics and issues arise.Please visit www.iiblp.org/AnnualSurvey for the latest programme.

2013 London Annual LC Survey - 22 April 2013Fall 2012 Opinions include: TA 765 (Is an on board notation required on an air transport document?);TA 767 (refusal because “AWB not showing actual airport of departure” and “insurance policyshowing incorrect AWB date”); TA 762 (effect of unqualified confirmation on credit containingautomatic extension clause on the obligation of the confirmer); TA 761 (the effect of entering theterm “NONE” in SWIFT Field 40C); TA 763 (credit required invoice calling for value of goods &/or services and transport document copy only for value of goods. Invoice presented showedvalue of goods as 0.00 and no transport document copy presented. Confirmer honoured but issuerrefused to reimburse); TA 768 (Despite LC instruction that documents sent in two lots, they weresent in one lot; is this a discrepancy?); TA 769 (what is necessary for an invoice to be “signed, sworn,and detailed”?); TA 772 (Does “produced by [name of company], Switzerland” indicate origin?).To be considered: Are the opinions sound? Will they be respected by courts? What difference shouldthey make in practice?3:00–3:30 Networking Break3:30–5:00 Recent Commercial LC Cases and Why They MatterCan an issuer refuse if the LC requires “original LC” and beneficiary presents original LC andoriginals of 5 of 6 amendments but a copy of the 6th amendment? (Piaggio)Can an issuer refuse a presentation where the name of the beneficiary in the documents presenteddiffers from that used in the LC by the addition of one word (the name of the product) but wherethe issuer regularly refers to the beneficiary of a letter of credit as “Piaggio & C.S. p.a.” and acceptssignatures in that form agreeing to amendments where the LC beneficiary is named “Piaggio andC.S.P.A./Aprillia”, can the issuer refuse a presentation in the name “Piaggio and C.S.Pa”?) (Piaggio)Is an authorization of a reimbursing bank to reimburse final payment to a negotiating bank? Does thenegotiating bank purchase documents from a beneficiary without recourse? (Malaysian BankingBerhad)Can a bank discharge an employee for violations of its own policies to which it regularly acceded?(Sheikh)What rights does an issuer have against a carrier under forged bills of lading? (The Dolphina)What is the effect of a buyer’s failure to tender a satisfactory LC to the seller? (Global Manufacture)Does amendment of an LC signify amendment of the underlying contract? (CVD Equipment Corp.)Cases involving LC Fraud or Abuse5:00–5:30 Miscellaneous Issues5:30 Reception

2013 London Guarantee & Standby Forum - 23 April 2013London Guarantee & StandbyForum Program *When: Tuesday 23 April 2013Hosted by: CMSHeld at: Mitre House160 Aldersgate Street, EC1A 4DD London, EnglandTuesday, 23 April8:00–8:30 Registration & Check-In8:30–10:00 Is It a “Demand Guarantee”? Categorization, Clauses, andCases:Why everything is so confused and confusing and what to do about it.• Wuhan Guoyu Logistics Group• Bank Islam• Master Marine• Rmarine Engineering• Sumatec Engineering• Malaysian Building. Society Berhad10:00–10:15 Networking Break10:15–11:00 What Does ‘Expire’ Signify When Determining Limitations ofActions?Pacific Bank; Williams; MBf Insurans Sdn; & Skuy11:00–11:45 Problems with Counter Guarantee Practice; Confirmationsunder URDG 758 ISP98 Model Forms 6, 7, & 811:45–12:45 Lunch12:45–1:15 Issues in Automatic Extension, Reduction, and IncreaseISP98 Model Forms 2 & 3; Louisville Mall; URDG 758; UCP600

2013 London Guarantee & Standby Forum - 23 April 20131:15–1:45 Beyond Fraud and Abuse: Unconscionability• Join-Aim Pte Ltd.• Master Marine• Olde v. Primary Compass LTD• Petrodar Operating Co• Sumatec Engineering• TL Mac Motorsport Sdn Bhd• Sensis Pty Ltd.1:45–2:15 The New Chinese Guarantee RulesIssues in the latest draft of the People’s Supreme Court Rules2:15–2:30 Networking Break2:30–4:00 Eight Recent Guarantee and Standby Cases & Their ImplicationsDo extension negotiations with applicant prevent beneficiary from drawing on standby? (Hamelberg)The effect of injunctions against drawing in other jurisdictions. (Hyundai)Amendments: Can there be an oral amendment or can an amendment be implied? (Bank Islam andLincoln National)Personal Jurisdiction (Petrologic)Can sureties raise the defense of fraudulent inducement in an action by a standby issuer forreimbursement where issuer has extended standby without sureties’ permission? (Andrews)What effect does the change of bank ratings have on an outstanding standby obligation of the issuingbank whose ratings dropped? (Associated Warehousing)Can an applicant that reimbursed issuer be subrogated to the rights of the beneficiary on paymentof the standby? (Ibrahim)4:00–4:30 Miscellaneous Issues

2013 London Annual Survey and Guarantee Forum HostAt CMS, we immerse ourselves in our clients' business. This enables us to deliverthe most effective legal solutions. Leading banks and corporations work with our2,800 lawyers across our 54 offices in Europe, Russia, China, North Africa andSouth America.Clients select CMS because we have the most extensive footprint in Europe of anyfirm. We provide local and industry sector insight, global project management andour specialist teams work hard to add value to their projects, wherever they aretaking place.Our Banking and Finance team consists of over 370 lawyers and we have a strongreputation for our ability to work on complex, multi-jurisdictional finance transactionsand disputes, bringing them to a smooth and successful completion.For further information please contact:Rita LoweDuncan AldredPartner, CMS LondonPartner, CMS LondonT +44 (0)20 7367 2798 T +44 (0)20 7367 2709E: rita.lowe@cms-cmck.com E: duncan.aldred@cms-cmck.comFacts & Figures54 offices48 cities29 countriesEurope:Albania, Austria,Belgium, Bosnia andHerzegovina, Bulgaria,Croatia, CzechRepublic, France,Germany, Hungary,Italy, Luxembourg,The Netherlands,Poland, Portugal,Romania, Russia,Serbia, Slovakia,Slovenia, Spain,Switzerland, Ukraineand United KingdomOutside Europe:Algeria, Brazil,China, United ArabEmirates and Morocco> 750 partners> 2,800 fee earners> 5,000 total staffCombined annualturnover:EUR 808 million (2011)www.cms-cmck.com

2013 London Annual Survey and Guarantee Forum Co-SponsorsCoastline’s services include:DC-PRO: Online library of letter of credit informationCoastline Solutions are partners with the International Chamberof Commerce in the delivery of online trade finance training andinformation services. Banks, traders, logistics and legal companiesfrom over 100 countries use Coastline Solutions’ online training andinformation services to save time, reduce costs and keep up to date withthe latest international trade practices.Collections online training: Comprehensive training in collections and URC522Mentor 600: Comprehensive training in documentary credit and UCP 600DC Master: Advanced training in letters of credit.ISP Master: Advanced training in ISP98 and independent undertakingsFor more information, visit www.coastlinesolutions.comDocumentary Credit World (DCW) is a world’s only monthlyjournal dedicated to field of letter of credit law and practice.Published in partnership with the IFSA, DCW is linked to themost important players in the industry to bring its readers valuableinformation 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 itsregular discussion of recent court cases, DCW covers a host of topics and is essential for any seriousletter of credit professional. In addition to individual paper subscriptions, DCW Global Licenses inelectronic format are available. To view our latest issue’s Table of Contents or for more information,contact DCW at www.doccreditworld.comIn Association with

2013 Annual Survey andGuarantee & Standby ForumInvited Panelist and Speaker BiographiesPanelist and speaker participation in one or both events subject to change.No endorsements of any sort by organizations are made or implied.Kursad AKPINAR is a department manager at Yapi Kredi.Merle ALLIKSAAR is currently working as Development Manager of Documentary Payments for ASHansabank, Swedbank group.Hasan APAYDIN is Senior Manager at Odea Bank A.S.-Turkey (member of Bank Audi Group).Johan BERGAMIN has worked in the documentary credit trade field, beginning in 1969 with ABN group,and since 1986 with ING group.James BYRNE is the Director of the Institute of International Banking Law & Practice, Inc. and teaches atGeorge Mason University School of Law.Christopher BYRNES is Managing Editor of the LC industry’s monthly journal publication, DocumentaryCredit World.Diana CURELEA has been involved in documentary credits since 1992. She is a holder of the IFS CITF(Certificate in International Trade and Finance) & of the CDCS professional designation.Derek ENNIS is CEO of Coastline Solutions, a company specialised in the delivery of the highest qualityonline training and information systems in the areas of International Trade and Arbitration.Roger FAYERS is an Independent Law Practice Professional in Kinston upon Thames, UK.David GREEN a Senior Technical Specialist for J.P. Morgan’s Global Trade unit, has 27 years of experience,and is responsible for SBLC and guarantee format reviews.JIN Saibo is a partner of Commerce & Finance Law Offices of China.Anita KURME is with Swedbank.Jenni Lajzerowicz is an energy, trade and transport lawyer with Norton Rose based in London.Vincent O'Brien is a practitioner in the Finance of International Trade and Documentary Credits withmore than 20 years international trade banking experience.