ICC Rules revision – an update
One of the sessions at the recent October 2022 Plenary meeting of the ICC Banking??Commission in Paris addressed a possible revision of ICC rules, specifically UCP 600 and ISBP 745.?
社区洞察
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Import/Export OperationsHow can you ensure that your letter of credit is properly structured?
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Financial ServicesWhat are the advantages of using letters of credit in global trade?
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SWIFT MessagingHow can SWIFT screening support cross-border payments and trade finance?
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Treasury ManagementWhat are the advantages and disadvantages of using a transferable letter of credit for intermediaries?
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Treasury ManagementHow do you assess the impact of netting and close-out agreements on counterparty credit risk exposure?
Int'l trade specialist
2 年ISBP745 is not "ICC rules" even "specifically"...
Retired - at last!
2 年The meeting in Jakarta in 2017 was a cop-out by the Banking Commission. To say that the majority of national commitees don't want a revision of UCP600 is nonsense simply because those committees are far from representative of the banks in their countries. David, you know it just as I know it, from both our experiences. The ICC's procedures are outdated and cumbersome, but a revision is necessary.