Articles by Month
History of ICC Guidance Papers – Current Part 1
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
We examine former Guidance Papers in this blog, and will take a look at current papers in future blogs...
Bills of Lading
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
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
We have mentioned UNCITRAL (United Nations Commission on International Trade Law) Model Laws on numerous occasions in the past...
Further Digitalisation ramblings
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)
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
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
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
Way back in 2016, we mentioned that a new update was in progress with implementation scheduled for 2020...