Banking

Banking Commission meeting set to shape banking rules

ICC ADR

The International Chamber of Commerce (ICC) is presenting its new Banking Commission strategy to members at the upcoming annual meeting in Zurich, Switzerland, as part of the organization’s drive to guide rule-making in the banking community.

ICC issues recommendations to shed light on requirements for on board notation

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In response to recurrent requests for ICC opinions on the subject, ICC has published recommendations to help clarify requirements, and to guide banks in the correct interpretation and application of the ICC Uniform Customs and Practice for Documentary Credits (UCP) in relation to on board notations.

Volcanic eruption delaying delivery of documents under ICC rules

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The unprecedented situation resulting from the volcanic eruption has led to delays in the presentation of documents by beneficiaries and banks to nominated banks, issuing banks, guarantors and instructing parties, due to the inability of courier companies to deliver packages in accordance with their published schedules.

ICC postpones banking meeting in Beijing

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The International Chamber of Commerce regretfully announces the postponement of its Banking Commission Spring meeting and its related events due to take place in Beijing on 21-23 April.

ICC expanding educational activities on trade rules

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ICC is expanding its educational activities on trade rules through the launch, by the European Bank for Reconstruction and Development (EBRD), of an online training programme for its member issuing banks in 29 countries operating from Central Europe to Central Asia.

UN endorses ICC Documentary Credit Rules

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ICC’s most recent revision of the Uniform Customs and Practice for Documentary Credits (UCP 600) was officially endorsed by the UN Commission on International Trade Law (UNCITRAL) at its 42nd annual session in Vienna.