When drafting ISBP 745 (International Standard Banking Practice for the Examination of Documents under UCP 600), it was recognised that a more methodical approach to the drafting of credits and/or amendments would act as a positive factor in avoiding many of the problems that can arise when examining documents.
Enhanced attention to detail, and reflection as to whether or not all requirements are actually necessary, will provide benefit to all involved parties.
With this in mind, the ICC Banking Commission released ‘Guidance Notes for Documentary Credit Formats’, which provides clear and transparent recommendations in respect of the optimal approach required in order to achieve a straightforward, uncomplicated documentary credit format.
- Standards Toolkit for Cross-border Paperless Trade
- eUCP VERSION 2.0 – ICC Uniform Customs and Practice for Documentary Credits
- Consolidated ICC guidance on the use of sanctions clauses in trade finance-related instruments subject to ICC rules
- Reconceiving the global trade finance ecosystem
- ICC Standards for Sustainable Trade and Sustainable Trade Finance
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