Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
The next ICC Opinions session will take place on 18 April 2023 in a purely virtual setting, followed by a Plenary Meeting on 19 April. The Banking Commission’s quarterly sessions to discuss ICC Opinions will then continue on 11 July (video conference) and in conjunction with its October 2023 Technical Meeting (date to be confirmed).
In 2022, the ICC Banking Commission issued five Technical Advisory Briefings (TABs) which are freely available. Its next TAB, Summary of ICC Guidance Papers, is in draft. Other topics that may be taken up in future TABs could include title of invoice, presentation of scanned attachments via email, issuing bank charges, and wet-ink/electronic/PDF signatures.
Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
On 15 Feb 2023, DCSA members pledged to issue 50% of bills of lading (B/Ls) electronically by 2028 and 100% by 2030, aiming to cut costs and boost global trade.
