05/05/2017
The ICC has established a new Working Group on
Digitalisation: the inaugural meeting was held in Jakarta prior to the recent
ICC Banking Commission plenary session.
As a result of this meeting, a number of work-streams have
been put in place:
-
Evaluate all ICC rules in order to ensure that,
going forward, they are ‘e' compliant, i.e. enabling banks to accept data vs.
documents.
-
Draft a set of minimum standards to enable
digital connectivity.
-
Conduct a legal review of enforceability and
acceptance of data vs. documents.
-
Lobbying and encouraging adoption of treaties
and laws that provide certainty for electronic trade and trade instruments.
Both Dave Meynell and Gary Collyer will be working closely
on the first work-stream mentioned above. Updates will be provided as and when
applicable.
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