August 2026
DCW Monthly: August 2026
Every industry eventually meets the bill for a problem it saw coming and filed away for later. Michael Byrne, IIBLP&
DCW Articles
Why We Need UCP Revision and More Purposeful Education
Although ICC has opted not to pursue UCP revision at this time, trade finance consultant Miguel Bustamante explains why he believes both revision and education are needed and are not mutually exclusive.
7 min read
In my opinion, LC users certainly find it easier to read UCP and ISBP than to keep track of the analysis and conclusions contained in ICC Opinions and Briefings. As of March 2026, the ICC Banking Commission has published approximately 276 Official Opinions dealing with UCP 600 matters and the ICC Technical Advisory Group (TAG) has produced 15 Briefings. Therefore, this is one of the reasons why I believe it is necessary to update the rules and practices on documentary credits.
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DCW Updates
ICC Finalizes Six Opinions at July 2026 Session
At its quarterly meeting on 21 July 2026, the ICC Banking Commission reviewed and finalized six Opinions, including four dealing
DCW Updates
ICC Banking Commission Updates on Its UCP Educational Push
Beyond discussion and finalization of six ICC Opinions at its quarterly Technical Advisory Session on 21 July 2026, the ICC
DCW Articles
How ISDGP Sees Automatic Extension of Guarantees
Although automatic extension is not addressed in the URDG758 rules, the ISDGP articulated in 2021 contains provisions to help interpret such terms if included in a demand guarantee.
DCW Articles
Three Originals, One Misunderstanding
Every bill of lading is issued three times over. Nobody needs 3, the rules don’t insist on 3, and change is coming on 3 September!
