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• History of ICC Guidance Papers – Current Part 1

  15/10/2020
  Recommendations in respect of the requirements for an ‘On Board' Notation  At the ICC Banking Commission meeting held in Dubai in March 2009, it was agreed that the UCP 600 Drafting Group would prepare a document outlining the requirements for an ‘on board' notation in respect of transport documents presented for examination under articles 19, 20, 21 or 22 of UCP 600...

• History of ICC ‘Guidance Papers’ – Former

  07/10/2020
  We examine former Guidance Papers in this blog, and will take a look at current papers in future blogs...

• Bills of Lading

  30/09/2020
  Although usage of bills of lading can be traced back to Roman times in the first century AD, the modern bill of lading did not come into use until mediaeval times...

• Further DOCDEX Decisions

  23/09/2020
  DOCDEX 359 A credit, subject to UCP 600, included a condition that the issuing bank would only effect payment when payment was received from the applicant...

• UNCITRAL Model Laws – an overview

  21/09/2020
  We have mentioned UNCITRAL (United Nations Commission on International Trade Law) Model Laws on numerous occasions in the past...

• Further Digitalisation ramblings

  16/09/2020
  Recent developments of note include:   The Marco Polo network completed an open account trade finance trial with 70 organizations using its blockchain platform...

• Draft Opinions Cyprus October 2020 (virtual)

  02/09/2020
  Five queries have been received for discussion at the next ICC Banking Commission meeting which will be held virtually in October 2020...

• More DOCDEX Decisions

  05/08/2020
  DOCDEX 356 Under a collection subject to URC 522, documents were sent to a collecting bank by a remitting bank, with the instructions to release documents to the drawee against payment in local currency, but for the collecting bank to undertake to pay in foreign currency after receiving approval from the local authority...

• Re-addressing integration of ISBP 745 and UCP 600

  29/07/2020
  We have focused on this in the past but have noted recent references to such a possibility in social media and trade articles...

• Incoterms® 2020 - update

  22/07/2020
  Way back in 2016, we mentioned that a new update was in progress with implementation scheduled for 2020...