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Jenner & Block Partner Carter H. Klein participated in the Institute of International Banking Law & Practice’s Letters of Credit Drafting Session held October 20 at the offices of Moses & Singer in New York City.
The session focused on revising the Commentary to the International Standby Practices 1998 ICC Publication No. 590 -- "ISP 98") and drafting model forms of standby letters of credit governed by the ISP 98. In attendance were members of the US State Department, UNCITRAL and SWIFT.
A member of the Firm’s Corporate, Commercial Law and Uniform Commercial Code, and Corporate Finance Practices, Mr. Klein has developed extensive experience with Article 5 of the Uniform Commercial Code – Letters of Credit. He participated in the drafting process for that article and in the drafting of the International Standby Practices 1998, and served as Chair of the Letter of Credit Subcommittee of the ABA’s UCC Committee, and is a member of the editorial advisory board of Documentary Credit World, which is published by IIBLP.