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Latest Articles

  • Sanctions Update
    07/07/2020
    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
    30/06/2020
    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
    23/06/2020
    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
    09/06/2020
    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?
    26/05/2020
    We have touched on this subject in the past but make no apologies for reprising the issue again, i...
  • ICC Digital Roadmap
    11/05/2020
    ICC launched version 1...
  • International Standard Demand Guarantees Practice (ISDGP) update
    28/04/2020
    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
    16/04/2020
    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...
  • Sherlock Holmes
    02/04/2020
    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
    25/03/2020
    The ICC recently published a Guidance memo on Opinions and their potential impact on ISBP 745 and UCP 600...