Trade finance
Application of ICC trade finance rules in the context of the Middle East conflict
In light of the conflict in the Middle East, ICC clarifies how existing trade finance rules continue to apply, recalling relevant provisions on document delays, force majeure and electronic presentation under ICC frameworks.
This guidance note provides practical clarification to the trade finance market on the continued application of ICC trade finance rules in the context of the ongoing conflict in the Middle East.
It addresses issues such as:
- Document delays;
- Force majeure considerations affecting banks’ operations; , and
- Alternative or electronic methods of document presentation where practical disruptions arise.
The guidance reviews relevant provisions across several ICC rules, including the UCP 600, URDG 758, URC 522, ISP98, and their respective electronic supplements, where applicable.
It recalls that while geopolitical developments may affect the commercial environment surrounding trade transactions, they do not alter the application of ICC rules governing documentary trade instruments.
This guidance aims solely to share practical views within the existing ICC framework and does not modify or replace the applicable rules.
