Articles by Month
ICC Policy Statement Proliferation Financing
This paper considers the application of a risk-based approach to assist financial institutions in identifying high-risk customers and transactions in relation to Proliferation Finance related to Weapons of Mass Destruction (WMD)...
ICC Policy Statement Financial Crime Compliance Checks
The ICC released a Policy Paper addressing the topic: ‘Checks on the Price of Goods in Trade Transactions - Are Price Checking Controls Plausible?'
As is mentioned within the paper, those wishing to launder the proceeds of crime through the financial system sometimes manipulate the price of goods involved in a trade finance transaction...
ICC eRules and UNCITRAL
As mentioned in previous blogs, eUCP Version 2...
Further Digitalisation ramblings
Recent developments of note include:
Electronic bills of lading: How secure are they really?
Background to the eRules drafting and approval process
The initial drafts of eUCP version 2...
At the core of documentary credit practice is the sending of paper documents between the various involved parties...
ICC Uniform Rules for Digital Trade
An update on the progress of the Uniform Rules for Digital Trade (URDT) was presented during the Paris Banking Commission meeting in October 2019...
We have mentioned on numerous occasions in the past that we do not - currently - support a revision of UCP 600...
New approved ICC Opinions October 2019
Five Opinions were approved during the ICC Banking Commission meeting in Paris, in October 2019...
On occasion, suggestions have been made that UCP 600 sub-article 14 (h) be modified...