Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from its survey of ICC Banking Commission members’ views on possible revisions of UCP600 and ISBP 821. Now, ICC National Committees are being surveyed on next steps regarding future action and strategy.
Answers from ICC Banking Commission Members
Do you believe there is currently a need to revise UCP 600? ICC Banking Commission members responding “Yes” (38%) were outnumbered by those saying “No” (55%) with another 7% indicating “Not Sure”.
Do you consider that the issues raised in documentary credit practice can be addressed through updates to ISBP or other guidance notes, rather than through a full revision of UCP 600? A majority of ICC Banking Commission members responded “Yes” (51.5%), while nearly one-third said “No” (31.5%), and 17% said “Not Sure”.
Do you believe the remaining less than 30 issues provide sufficient rationale to continue the ISBP revision? Only 11% of ICC Banking Commission members said “Yes”, compared to 69% who said “No”, while 20% signaled they were “Not Sure”.
Could the remaining ISBP issues be addressed more effectively through means other than a full revision (e.g. Education Project, Technical Advisory Briefings, ICC Opinions, additional guidance notes)? Of ICC Banking Commission members choosing to respond, most said “Yes” (60%), with just 14% saying “No” and another 26% respondents indicating they were “Not Sure”.
Questions for ICC National Committees
Do you, as a National Committee, support a revision of UCP 600? Yes/No
If yes, in order to support this view, provide detailed use cases where UCP 600 has proven inadequate, unclear, or inconsistent with current trade practices. If no, do you support further educational guidance?
Do you, as a National Committee, support a revision of ISBP 821? Yes/No
If yes, please explain why you consider the remaining issues sufficient to justify continuation.
If no, could the remaining issues be addressed more effectively through means other than a full revision (e.g. Education Project, Technical Advisory Briefings, ICC Opinions, additional guidance notes)?
Do you, as a National Committee, support continuation of the ISBP Education Project? Yes/No
Survey Requirements
ICC urges that each ICC National Committee, after consultation with its members, prepare its consolidated response since only one completed survey per National Committee may be submitted. Each ICC National Committee is asked to fill out the survey online or email its answers to designated ICC representatives. Completed surveys must be submitted on or before 27 February 2026.
