Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.

ICC Opinion Process

4 articles

DCW Updates

ICC Clarifies Opinion Withdrawal Process

The ICC Banking Commission has released a Steering Committee Statement to its members and ICC National Committees regarding withdrawal of

Christopher Byrnes Dec 16, 2025

DCW Updates

Questions about the ICC Opinion Handling Process

The ICC Banking Commission’s “ICC Official Opinion Handling Procedure and Terms of Reference”, last updated in June 2023, sets

Christopher Byrnes Aug 14, 2025

DCW Feature

ICC Opinions: Why has Usage Reduced?

Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.