ICC Guidelines for the Creation of BPO Customer Agreements
Following a request made by a number of banks to the ICC, the Banking Commission and SWIFT agreed to create a working group for the drafting of guidelines to assist banks in the creation of customer contracts or agreements for use with their BPO related services or products.
The document does not provide a suggested text of a contract or agreement. The drafting of a BPO contract or agreement is like any other bank document and should remain within the domain and control of the concerned bank. However, what it does provide is a suggested list of categories, and the individual components within those categories, that should be considered when drafting a customer contract or agreement.
The appendix to the document contains a list of bank financing product and services descriptions that were drafted by SWIFT in May 2009 for the Trade Services Utility (TSU) documentation. This list is by no means fully encompassing or comprehensive, may contain concepts and terms which are not uniformly used worldwide, and is offered solely for guidance.
A previous draft text has been reviewed by the ICC Banking Commission Legal Committee and their valuable comments are incorporated into this final version.
It is the responsibility of each bank to design its financing products and services relating to the BPO and to assess their legal and operative feasibility.
Members of the Working Group
Gary Collyer – Collyer Consulting Global Ltd (Chair)
Nadine Louis – SWIFT
Patrick Krekels – SWIFT
Robert Marchal – SWIFT
Harriette Resnick – JP Morgan Chase
Evelyne Braidy – BNPParibas
Christine Centner – BNPParibasFortis
Daisuke Kamai – Bank of Tokyo-Mitsubishi UFJ Ltd
Michael Seeger – Deutsche Bank
David Meynell – TradeLC Advisory
Neil Chantry – HSBC
Andre Casterman – SWIFT
Summary and highlights
Concept of a Bank Payment Obligation
Governing Law and Jurisdictions
- Standards Toolkit for Cross-border Paperless Trade
- ICC Fintech Collaboration Guidelines
- 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
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