8:30 – 9:00 Registration & Check-In
9:00 – 9:30 Welcome & Introducing Yourselves
Welcome Remarks: Michael BYRNE (IIBLP)
9:30 – 10:30 2024 News & Trends in Treasury & Working Capital
- ISP98 at 25 Years -- Taking stock of the rules, forms, interpretations, industry usage and the future
- Basel 3.1 and the Case Against Stricter Capital Treatment
- Capital Risk distribution and risk mitigation strategies
- Compliance checks: what do you do, and how can we speed them up?
- Suretyship: opportunities and pitfalls for banks as Issuers
- Singapore Trade Finance Registry
- Commodity Financing: Resetting the Stage
Moderator: SOH Chee Seng (ABS & IIBLP)
Panelists: Sharad SINAH (SC); JIN Saibo (JTN); Adrian TAN (SC)
10:30 – 10:45 Coffee & Networking Break
10:45 – 11:05 Aviation LCs: Risks and Mitigation Strategies
- Celestial Aviation case
- Aviation LCs containing contractual demands
- “on the instructions of the Applicant and for its account”
- Special Purpose Vehicles (SPVs): best practices when dealing with these
- Audience feedback
11:05 – 11:20 Coffee & Networking Break
11:20 – 12:30 What are the Courts Saying? Guarantees & Standby Edition
- Chian Teck Realty Pte Ltd. v. SDK Consortium [Singapore]
-- An alert to bankers on sending ‘notice' of non-extension - North Asia Ltd. v. Jingdong e-Commerce (Trade) Hong Kong Corp. [Hong Kong]
-- The “agreement exception” and the independence principle - Macquarie Bank Ltd. v. Banque Cantonale Vaudoise [England]
– Alleged fraud and failure to give notice of refusal under UCP600 standby - EFLO Energy v. Devon Energy Corp. [USA]
-- Issuer's duty when beneficiary demands correction, but applicant does not consent - Descon Group Australia v. 35 Merivale Pty
- Docdex Decisions on Standbys
Moderator: Alan DAVIDSON (U. Queensland)
Panelists: SOH Chee Seng (ABS); JIN Saibo (JTN); Boon Teck YEO (BofA)
12:30 – 13:30 Luncheon
13:30 – 14:15 Swift MT Update & The Future of Trade Messaging
Uptake after one year of Swift Standards Release 2023 plus the latest on the Swift has APIs for Trade Finance.
Speakers: Mukta KADAM (Swift) and Tom Alaerts (Swift)
14:15 – 14:30 Coffee & Networking Break
14:30 – 15:00 Capital Adequacy: Recommendations for Basel and the BIS
- How do you account for standbys and independent guarantees
- What is a safe and fair level for capital requirements
- How can Basel adjust to support our corporates
15:00 – 15:10 Coffee & Networking Break
15:10 – 15:30 Singapore eGuarantee@Gov Program
- How is the eGuarantees program working
- Corporate usage?
15:30 – 15:40 Coffee & Networking Break
15:40 – 16:10 Opportunities & Challenges
- Dependent Guarantees: how far should banks go in restricting such issuances if it comes out of a commercial agreement between parties?
- Standbys requiring presentation of original and any amendments
- Presentation of documents by email or fax under standbys
- Authentication requirements for presentation of electronic documents under URDG guarantees
- ICC Opinion TA940: URDG Guarantee and Invoice Copies
- Beneficiary Request to Issuing Bank to Suspend or Withdraw a Pending LC Draw: Accept or Not
Moderator: SOH Chee Seng (ABS & IIBLP)
Panelists: Christopher BYRNES (DCW); Vin O’BRIEN (ICC UAE)
16:10 – 16:20 Coffee & Networking Break
16:15 – 16:50 Flipping the Switch: Digital Standbys are a “Go”!
- Singapore’s eGuarantee Template and Usage Experiences
- Big Picture: what does a fully digital standby look like?
- What lessons can we apply from trade finance to standbys and working capital?
- Where would a digital standby ecosystem live? SWIFT? Online database?
- How can we involve corporate users?
- What are the challenges and opportunities in a digital standby universe?
- Presentation of Scanned Documents via Email Attachment
- ICC/Swift API for Sbys & Gees
Moderator: Vin O’BRIEN (ICC UAE)
Panelists: Alan DAVIDSON (U. Queensland); Boon Teck YEO (BofA)
16:50 – 17:00 Summary, Lucky Draw, and Closing Remarks
