Reducing the Risk of Disputes and Defaults in Trade Finance

Seminar with a leading Foreign Speaker Mr. STEPHEN TRICKS Legal issues concerning L/Cs, Standby L/Cs, Bank Guarantees, Export and Import Finance, Security over Goods, Disputes, Legal Procedures, Enforcement

Stephen Tricks was a partner at Clyde & Co, the international law firm, for over 25 years and is now a consultant at Clyde & Co. His practice is centred around international trade and commodities, and in particular commodity and trade finance.

He regularly advises trading companies and banks on security over goods, letters of credit, performance bonds, guarantees, letters of indemnity, sale contracts, insurance and carriage contracts. He also handles major disputes on banking, trade and international joint ventures.

Stephen lectures regularly on trade finance issues at conferences organised by National Committees of the ICC, the International Energy Credit Association and other bodies. Stephen acts as consultant to EBRD on its Trade Facilitation Programme and has participated in the development of various ICC rules as a member of the ICC UK Committee on Banking Technique and Practice. He is also a director of the Mongolian British Chamber of Commerce.

Program:

08:30 – 09:00

Registration

09:00 – 09:05

Introduction - Representative of ICC CR

09:05 – 10:40

Introduction to main Legal issues in Trade Finance as per English law

• Payment terms in the Contract of Sale – main issues
• The extent to which the terms of the L/C should be set out in the sale contract
• Security over Goods in Transit and in Storage
• Insurance documents as per the English Law

10:40 – 11:00 Contact break

11:00 – 12:30

Disputes

• L/Cs – main legal issues
• Standbys and Bank Guarantees as per English Law
• Direct and Indirect Guarantees – main legal challenges
• Main recent court judgements
• Fraud Exception
• Discussion

12:30 – 13:15 Refreshments

13:15 – 14:40

Disputes

• Legal Disputes
• Choice of Applicable Law
• Jurisdiction
• Disputes Resolution – Options Available
• Discussion

14:40 – 15:00 Contact break

15:00 – 16:30

Other Legal issues

• The legal status of ICC Banking Commission Opinions
• Docdex Decisions
• Sanctions
• Discussion