The January/February 2006 Issue contains the following articles:

·                     Trade Services 2005 In Review LCM speaks with RBC’s Daryl Yeo, ING’s Hugo Verschoren and HSI Helicopter’s Danielle Austin about the most important events affecting the trade services industry in 2005 and what to expect in 2006.

·                     DC-Pro LC Market Intelligence Survey Trade Finance Department Structure and Operation Trade Finance Department Structure and Operation Section of DC-Pro LC Market Intelligence Survey covers: Standby LCs, URDG, eUCP, UCP revision, Revocable credits and Non-bank issued letters of credit.

·                     ‘It Is Not So Named In The Bond’ Guarantees 1.0 Robert M. Parson and Geraldine Butac continue the topic of guarantee construction examining how labels could be deceptive citing Cargill -v- Bangladesh Sugar and Tradigrain -v- State Trading Corporation of India.

·                     Issuing Bank Fees Danielle Austin presents The Exporter’s View on the topic of issuing bank fees and gives new meaning to that all too familiar clause, ‘All banking charges including cable fees, postage, or other expenses incurred within the country of the applicant shall be for applicant’s account.

·                     The UCP -v- ISBPKim Christensen looks at the UCP and ISBP with reference to the UCP revision suggesting that the ‘new’ UCP should be drafted logically and intuitively with the focus on the buyers and sellers rather than the banks.

The March/April 2006 Issue contains the following articles:

·                     The Invisible Article Kim Christensen explains why non-negotiable sea way bills covered under UCP Article 24 are rarely called for under LCs, what their benefits are, and how trade can be simplified by using them rather than negotiable bills of lading.

·                     Future Receivables Management Ron Wells demonstrates how the proper management of receivables portfolio can generate an ongoing positive impact on total shareholder return. A must read for all Credit Managers.

·                     ‘If The Bank Decides That The Documents Are OK, Then They Must Pay The Money, Right? In a humorous way, Vincent O’Brien enlightens readers on the meaning of sight payment, deferred payment, acceptance, and negotiation, proposing changes to the UCP.

·                     Demystifying China Trade Ravi Mehta interviews Bank of China’s Jia Hao about LC use in China, uncovering most common discrepancies banks in China find in export documents received from abroad and admitting their own mistakes.

·                     Doc Prep And All Its Hype In The Exporter’s View column, Danielle Austin questions the value of outsourcing document preparation to an outside service provider as compared to developing and using an efficient in-house process.

The May/June 2006 Issue contains the following articles:

·                     What Not To Do Peter Sproston shares his experience in dealing with ‘secure’ payment instruments in international trade

·                     Even If The Rules Were Perfect Kim Christensen quotes samples of wording from real letters of credit that have caused discrepancies.

·                     Q & A Do all letters of credit need the involvement of an advising bank? If a letter of credit is issued to a beneficiary directly without an advising bank, can this credit be transferred? LCM’s Kim Christensen answers these two questions.

·                     The UCP Zsuzanna Tóth revisits the Banco Santander SA v. Bayfern Limited case arguing that a bank’s decision to discount a credit is separate decision that should be done with clear understanding of bank-to-bank obligations.

·                     Shipping Guarantees And Discrepant Documents Soh Chee Seng analyses the risks for a bank that authorises release of goods consigned to it under a documentary credit against issuance of a shipping guarantee.

·                     How Many Baskets Are Your Export Eggs In? Peter Matthews uses Canadian-U.S. trade relations and modern day economics to highlight the importance of diversification in export markets.

·                     Fundamentals of International Trade Financing Jee Meng Chen presents his seminar: Fundamenetals of Internaional Trade Financing with the focus on Letters of Credidt.

The July/August 2006 Issue contains the following articles:

·                     HVB Partners With GTC To Bring To Market Multi-Bank Applications For Trade Services HVB’s Markus Wohlgeschaffen, Managing Director and Head of Trade and Payment Products, and GTC’s Jacob Katsman and Nick Pachnev share their views on the partnership.

·                     Electronic Commerce Update George F. Chandler III, reports on the impact ofthe UNCITRAL E-Contracting Convention on letters of credit.

·                     By Air Or By Sea? - Discrepancies Exposed Kim Christensen starts a new column called ‘Discrepancies Exposed’ that examines conditions, wordings and clauses in letters of credit that make it hard or impossible for the exporter to comply with the credit terms. In this issue Kim uncovers an airfreight shipment with the LC designed for a sea shipment.

·                     Payment Dishonoured Due To The Use Of The Correct Term In An Oil L/C Presentation T.O. Lee reviews the DOCDEX Decision No. 262 arguing that Google should be a standard research tool of document checkers.

·                     Journey Through Banking Systems Of India, U.A.E., And Bahrain? Ravi Mehta interviews N.D. George, CDCS, Head of Loan, Trade and Forfaiting Operations at Arab Banking Corporation, Manama, and Kingdom of Bahraine.

·                     Fundamentals of International Trade Financing Jee Meng Chen presents Part 2 of his seminar: Fundamentals of International Trade Financing.

The September/October 2006 Issue contains the following articles:

·                     91 To 0 The LC Is Aiming For New Horizons ICC Banking Commission on October 25, 2006 approved the revised rules on documentary credits. We must now get used to saying UCP 600 instead of UCP 500.

·                     Small Wording That May Cause Big Problems - Discrepancies Exposed In the second edition of Discrepancies Exposed, Kim Christensen focuses on small things that are found in LCs that do not seem too disturbing, but may in fact be the basis for unfortunate surprises for buyers and sellers.

·                     Taxonomy Of Structured Trade Finance Jee Meng Chen examines the underlying philosophy of Structured Trade Financing and differences between conventional lending and structured trade finance lending.

·                     China’s Own Rules For Adjudication Of LC Disputes China has formulated its own rules for adjudication of LC disputes. Ravi Mehta speaks with China’s LC specialist Jia Hao who was involved in the English translation of the rules about the purpose and necessity of the rules that have been effective since January 1, 2006.

·                     Freezing Orders – Shutting The Stable Door Robert M. Parson reviews the case of Customs & Excise Commissioners –v- Barclays Bank looking closely on implications of the judgment delivered by the English House of Lords that looks at the duty owed by a bank served with a freezing order towards the claimant and questions whether a bank has a duty to shut the stable door to stop the defendant riding off with his assets.

The November/December 2006 Issue contains the following articles:

·                     EADS Goes Live With HVB - @GlobalTrade 36 EADS subsidiaries and 22 banks to go
            live with HVB-@GlobalTrade Guarantee Platform.

·                     Discrepancies Exposed - Kim Christensen presents a variety of cases that do not
            increase the trust in LCs.

·                     Multi-Banking Trend - JacobKatsman examines the need for multi-bank applications for
            trade services, illustrating how banks could use web based technology to deliver services
            with connectivity to all banks in their clients’ supply chain.

·                     The Pros And Cons Of UCP 600 - T. O. Lee brings examples of issues that have been
            considered during the drafting of UCP 600 arguing that the new UCP is merely a set of
            Compromised provisions among different ICC National Committees.

·                     The Volume - Kim Christensen and Daniel Devahive present the idea to combine all
            relevant information about LCs in a ‘Volume’ accessible to all parties involved in
            international trade.

·                     Unable To See The Forest For The Trees - Robert M. Parson and Marie Brittenden
            examine the case of Abou-Ramah & Kalid Al Fulaij & Sons General Trading &
            Contracting Co -v- Abacha, City Express Bank of Lagos & Others. The authors conclude
            that the courts have recently shown renewed interest in exploring the duty of a bank to
            pay up civil damages to the victims of fraud on top of any criminal or regulatory penalty
            incurred in the event that someone suffers as a result of the bank handling payments
            extracted fraudulently from the victim.