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“What to do if things start to go wrong in a Trade, Export or Project Finance Transaction”

Posted by Jacqueline Cook on May 25, 2023 12:40:33 PM

Jacqueline Cook, Of Counsel, sums up the key messages from Sullivan’s May webinar.

Geoffrey Wynne considered what financiers could do if things start to go wrong in a trade, export or project finance transaction and asked participants to consider a few key questions:

  1. could you anticipate a fraud;
  2. is the financing structure sturdy; and
  3. could the structure facilitate mis-selling in any way?   

With these in mind, the message is clear:

  1. carry out transaction due diligence before signing;
  2. monitor the income generating assets throughout the life of the transaction; and
  3. respect the financing structure.
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Topics: Project Finance, Trade & Export Finance

Sullivan Wins GTR "Best Trade Finance Law Firm" 2020 Award

Posted by Simon Cook on Apr 29, 2020 10:07:27 AM

London, UK – International law firm Sullivan is delighted to announce that it has again been named "Best Trade Finance Law Firm" by leading trade finance publication Global Trade Review (GTR) at its 2020 Leaders in Trade awards, announced today.

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Topics: Trade & Export Finance, Global Trade Review

The ICC’s Response to Covid-19 in Relation to Force Majeure under its Rules

Posted by Geoff Wynne on Apr 14, 2020 10:37:44 AM

By Geoffrey Wynne and trainee Szonja Kolbenheyer at Sullivan in London

On 7 April 2020, the International Chamber of Commerce ("ICC") published a paper titled "Guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules."

This paper addressed the question as to whether banks and guarantors could seek to apply force majeure as a result of Covid-19, as a defence to non-performance. The key consideration is whether Covid-19 amounts to an interruption of their respective businesses or to an event beyond their control. This paper also considered the issues currently faced around the delivery of documents in trade finance transactions. The ICC looked at various scenarios relating to the delivery of documents under rules including UCP 600 and ISP 98 for letters of credit (‘LCs’) and URDG 758 for guarantees.

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Topics: Trade & Export Finance, Force majeure, COVID-19, ICC Rules

New Coronavirus and force majeure clauses

Posted by Katharine Wheatcroft on Feb 24, 2020 1:16:12 PM

By Katharine Wheatcroft and Duncan Burrell

As the so-called COVID-19 virus continues to spread in China and this week also in Italy, Iran and Korea, with almost 80,000 confirmed cases and over 2,000 dead as of late February, the world’s second largest economy is struggling to get back to work, and other economies are feeling the effects.

Within the trade sphere, worker shortages, transport disruption and heavy government restrictions have meant that many of the corporations that drive China’s economy, the world’s largest importer of raw materials, are starting to review their international supply and demand contracts.

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Topics: Trade & Export Finance, Force majeure

The ICC publishes Incoterms 2020

Posted by Francesca Umicini-Clark on Oct 2, 2019 1:23:13 PM


By Rajan Dhami, Francesca Umicini-Clark and Simon Cook

On 10 September 2019, the International Chamber of Commerce (ICC) issued a much anticipated set of revisions to the Incoterms – the international commercial terms published to clarify the obligations of buyers and sellers in trade contracts, which will come into force on 1 January 2020. In a further attempt to adapt to current commercial practices and provide innovative solutions, Incoterms 2020 have introduced a number of significant changes.

The most notable changes include:

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Topics: Trade & Export Finance, ICC

Sullivan Wins Third Trade Finance Award in 2019

Posted by Simon Cook on Jun 28, 2019 11:44:49 AM

I am very pleased to announce that Sullivan's trade and export finance team has won its third significant trade finance award in 2019.

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Topics: Trade & Export Finance

Sullivan Wins GTR ‘Best Trade Finance Law Firm’ 2019 Award

Posted by Amanda Montano on May 3, 2019 3:03:32 PM

by Amanda Montano and Alexander Swayne

Sullivan is pleased to have been named "Best Trade Finance Law Firm" 2019 by leading trade finance publication Global Trade Review (GTR) at its annual Leaders in Trade awards, held on 2 May 2019 in London.

The Leaders in Trade awards highlight excellence in the trade, commodity, supply chain and export finance and fintech markets.

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Topics: GTR, Trade & Export Finance, Global Trade Review, Leaders in Trade

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About the Blog

Talking Trade Finance is here to provide you with all of the latest updates in the Trade & Export Finance Industry.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

Meet the Editor


Ellis Lawson is a partner in the Trade & Export Finance Group in Sullivan's London office. He has extensive experience across a wide range of finance products and geographies, having spent significant portions of his career based both in London and in the Middle East and having advised on transactions across Europe, the Middle East and Africa. Ellis is also a speaker for Sullivan's Trade & Export Finance webinars.


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