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>Uniform rules for documentary credits, collections, bank-to-bank reimbursements and demand guarantees. |
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| ICC and the International Forfaiting Association (IFA) have created a joint drafting group to prepare new global forfaiting rules, the ICC Banking Commission announced today. |
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ICC to hold workshop on issuing documentary credits in current downturn
ICC will hold a one-and-a-half day workshop in Paris on 18-19 June to show how a better structure of the letter of credit itself and the correct application of the UCP 600 rules can help all parties better manage the documentary credit process and alleviate many of the problems being experienced at this critical time. |
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Trade volume and value decline sharply as a result of crisis
Trade has significantly decreased in both volume and value as a result of the worldwide recession and may be reduced further due to tight credit conditions, ICC said in a report presented at a meeting of banking experts organized by The World Trade Organization. |
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ICC Commission on Banking discusses trade finance problems at WTO
Members of the ICC Commission on Banking Technique and Practice and representatives from international financial institutions, private banks, and other experts met at the WTO last week to analyze the shortage of trade finance and discuss possible measures to address the problem. |
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