Articles by Month
Bad / poor practice as reflected in ICC Opinions
We make no apologies
for having frequently referred to the ICC consultation document in respect of a
potential revision of UCP 600, in which it was considered not to be
appropriate to undertake a revision of UCP 600 but instead to provide a greater
understanding of practices...
Sanctions are trade
controls that can be (and are) imposed by the United Nations, the EU Council,
or individual countries, for political or economic reasons...
A wider look at sustainability
In a previous blog
we reported on the ICC Commission on Environment and Energy issuance of a
Policy Statement on ‘Sustainability Reporting - Future Directions' in December
2015, and the more recent establishment, by the ICC Banking Commission, of a
Sustainable Trade Finance Working Group that serves to
introduce standards and certifications for the industry...
credit operations, the advising of discrepancies in documents is probably the
most contentious issue that a bank will face with its clients or another bank...
More DOCDEX Decisions
instructions given by a remitting bank to a collecting bank stated that
documents were to be delivered against acceptance of drafts by the drawee and
endorsement of the drafts by the collecting bank...
International Standard Demand Guarantees Practice (ISDGP)
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
CITF® examination: a timely update?
As we have
highlighted in previous blogs, the CITF® examination
was developed by The London Institute of Banking & Finance (formerly ifs
University College) and launched in 2009, with endorsement by the ICC in 2014...
Revision vs Education
A previous blog
focussed on the potential release of ‘Guidance Papers' in order to help resolve
a number of the problems that exist with the handling of documentary credits...
Documentary Credits Practice: an update from the ICC Banking Commission meeting: Tbilisi October 2018
Commission agenda included a session entitled ‘Documentary Credits Practice:
Controversy & Guidance'...
Review of the new MT744 and MT759 messages
MT744 - Notice of Non-Conforming
In a further move to reduce the number of MT799
messages that are sent between banks and to utilise structured messages for
different actions under a transaction, the MT744 has been created...