For many years, the ICC Banking Commission has issued official opinions, DOCDEX decisions, and decisions and guidance papers on a range of topics. These have provided invaluable information and direction to documentary credit practitioners globally.
Due to the need to obtain agreement of ICC National Committees to any proposed text, this can be a long drawn out process.
To hasten the delivery of guidance on topical matters, and at an educational level, the ICC Banking Commission has commenced the process of issuing what will be known as ‘Briefing Notes’ that are designed, and stated to be, for educational purposes only. These briefing notes are developed by the Technical Advisory team with input from a core group made up of representatives from ICC National Committees.
The first of the briefing notes is on the subject of ‘non-documentary conditions under the UCP 600’ and can be downloaded here
The next three in the series have already been determined and are ‘without delay’, ‘reducing discrepancy rates’ and ‘lost documents’.