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Table of contents

Editor's note by Ron Katz
L/Cs increasingly subject to political pressures by Mark Ford
Banking Commission update Four new sets of rules en route
Expert commentary Why do exporters dislike documentary credits? by Bob Ronai
Iranian sanctions hurting Dubai
Queries and responses Opinions from the Mexico Banking Commission meeting
The Insight interview: René Müller Comments on the most recent draft ISBP
ISBP ISBP must take account of other sectors by Kim Sindberg
BPO update The BPO rules: on the way to adoption by André Casterman
Forfaiting ICC rules on forfaiting are now in effect by Sean Edwards
Standbys and guarantees ISP98 standby forms and achieving "independence" by Jim Barnes
Iraq moves to make L/Cs more available
Legal docket The legality of silent confirmation by King-tak Fung
Basel Committee relaxes Basel III rules
Discussion point The original L/C as a "document" by John F. Dolan
International bulletin A report from a China correspondent
Right of response The case of a transferred L/C by N.D. George, CDCS (Distinction)
L/C frauds continue to flourish
DOCDEX A Decision from ICC's Panel of Experts
Big drop in L/Cs for US bond issuers
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In brief