October 2019

  • 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...
  • UCP Gaps
    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...
  • Non-documentary conditions
    On occasion, suggestions have been made that UCP 600 sub-article 14 (h) be modified...
  • Amendment conditional upon payment of fees
    Concern has been expressed in the past in respect of the linking of the effectiveness of an amendment under a documentary credit to the payment of a fee...
  • Contract wording in a documentary credit
    UCP 600 article 4 makes it clear that a credit is a separate transaction from the sale or any underlying contract on which it may be based...