ICC Banking Commission
What Are We Supposed to Do? A Practical Approach to Sanctions Clauses
The position of a banker in the trade finance environment includes trying to reconcile opposite demands of a buyer and a seller.
Latest ICC Draft Opinions Released for April 2022 Meeting
The ICC Banking Commission has released three Draft Opinions that will be discussed at its next opinion review session that
ICC Technical Advisory Briefing No. 1 (TAB-1) - on Non-Documentary Conditions
The ICC Banking Commission released its “Technical Advisory Briefing No. 1” on the topic of Non-Documentary conditions in Documentary Credits subject to UCP 600.
The Problem Is Not with the UCP, It’s with the LCs
Calls to simplify the UCP are nothing new—but are we solving the wrong problem? Buddy Baker argues it’s not the rules that need fixing, but the over-complicated letters of credit themselves. Could a simpler LC structure reduce errors, speed up processing, and cut through the red tape?
ICC Opinion R505 / TA537 (2002) – When a Non-Bank Issues a Letter of Credit
Because of widespread interest in this subject, the ICC Banking Commission decided to post this Official Opinion to its website. Although the title includes reference to UCP 500 Articles 1 and 2, this Opinion is applicable to UCP 600 and is evidence of international standard banking practice.
