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Earlier this year, we mentioned that the ICC Banking Commission was re-addressing the ICC Guidance Paper on the use of Sanctions Clauses, published in an updated version in 2014...
ICC Interpretative paper on UCP 600 Article 35
On 6 April 2020, the ICC Banking Commission released the "Guidance paper on the impact of COVID-19 on trade finance transactions subject to ICC rules"...
Uniform Rules for Digital Trade Transactions (URDTT) Draft 3
As previously highlighted, a 2nd draft of the rules was distributed to ICC National Committees in early February 2020, with a request for responses by early April 2020...
Approved ICC Opinions Dubai April 2020
Six queries were received for discussion at the ICC Banking Commission meeting that was scheduled to be held in Dubai, in April 2020...
ISBP 745 – time for free access?
We have touched on this subject in the past but make no apologies for reprising the issue again, i...
ICC Digital Roadmap
ICC launched version 1...
International Standard Demand Guarantees Practice (ISDGP) update
First mentioned in the URDG Newsletter dated 1 July 2012, edited by Georges Affaki:
"Task Force members are often asked whether the ICC Banking Commission will compile and release in the form of a booklet the "international standard demand guarantee practice" referred to in URDG 758 article 2...
ICC issues recommendations to reform global trade
The ICC recommendations ‘Reforming the Multilateral Rules-Based Trading System: The outcomes we want for people and planet,' provide an outcomes-based approach to reforming international trade with the overriding objective of making trade work for people and planet...
Moving at a tangent to our normal postings, it is with great interest that we recently discovered a connection between the famous fictional detective Sherlock Holmes and Letters of Credit...
International Standard Banking Practice (ISBP 745) Guidance Paper
The ICC recently published a Guidance memo on Opinions and their potential impact on ISBP 745 and UCP 600...