ICC releases the 2020 Global Survey on Trade Finance incorporating an assessment of the impact of COVID-19
The International Chamber of Commerce’s (ICC) 11th annual Global Survey on Trade Finance reveals that banks are optimistic about the evolving nature of trade finance, though unsurprisingly expect various industry-wide challenges and disruption as a result of the COVID-19 pandemic...
ICC issues addendum to the 2014 Guidance Paper on the use of Sanction clauses in trade finance-related instruments subject to ICC rules
The ICC has noted a resurgence in the use of sanctions clauses in documentary credits and in demand guarantees, particularly in the form of non-specific clauses that create uncertainty...
ICC release 2019 Trade Finance Register Report
The ICC has today released their latest Trade Register report...
Two new papers issued by ICC
When drafting ISBP 745 (International Standard Banking Practice for the Examination of Documents under UCP 600), it was recognised that a more methodical approach to the drafting of credits and/or amendments would act as a positive factor in avoiding many of the problems that can arise when examining documents...
ICC releases Guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules
Responding to the urgent need to address the disruptions facing the trade finance market as the world grapples with the novel coronavirus (COVID-19) pandemic, the International Chamber of Commerce (ICC) has today provided holistic guidance to the market, governments and regulators through the publication of this paper...
Only electronic air waybills to be accepted soon in Oman
Muscat: In order to facilitate and develop customs services, the Royal Oman Police (ROP) announced the start of the electronic air Waybill (e-policy) system...
Launching of ICC Digital Trade Standards Initiative (ICC DSI)
The ICC has announced the launch of the ICC Digital Trade Standards Initiative (ICC DSI), a collaborative cross-industry effort to enable the standardisation of digital trade...
Global Supply Chain Finance Forum releases Payables Finance factsheet
The Global Supply Chain Finance Forum (GSCFF) consisting of representatives from BAFT, ABE-EBA (Euro Banking Association), FCI (formerly known as Factors Chain International), ICC and ITFA (International Trade and Forfaiting Association) have released a factsheet which explains the rationale behind supply chain finance techniques and why it is a tool that should be developed by the trade finance community...
ICC issues supplement to the Commentary on eUCP Version 2.0 and eURC Version 1.0.
The eUCP 2...
ICC releases version 1.0 of their digital trade roadmap
ICC launched version 1...