ICC Banking Commission Technical Advisory Briefing No. 6 Subject: ICC Guidance Papers 28 February 2023 ISSUE On occasion, the ICC Banking Commission releases Guidance Papers on subjects considered to be of key importance to practitioners. Whilst these have proven to be of great benefit, they are sometimes overlooked or are no longer easily accessible. INTRODUCTION With this in mind, a …

ICC Banking Commission Technical Advisory Briefing No. 5 Subject: Modifications and Exclusions under Documentary Credits subject to UCP 600 7 December 2022 ISSUE It is a fact that a number of documentary credits are issued with a modification or exclusion of one or more of the UCP 600 articles and/or sub-articles. Whilst this is permitted by the content of article …

ICC Banking Commission Technical Advisory Briefing No. 3 Subject: Reducing discrepancy rates under Documentary Credits 27 June 2022 ISSUE It is estimated that the global percentage of documents refused on first presentation under documentary credits ranges between 65-80%. Whilst this does not necessarily mean that a beneficiary will not receive settlement at all, it is a matter of significant concern …

ICC Banking Commission Technical Advisory Briefing No. 2 Subject: Meaning of ‘without delay’ in UCP 600 5 April 2022 ISSUE How should the phrase without delay be interpreted in the context in which it is mentioned in UCP 600? INTRODUCTION Whilst the phrase is used in 4 articles of the UCP 600, no formal definition exists. In practice, relatively few …

ICC Banking Commission Technical Advisory Briefing No. 1 Subject: Non-documentary conditions in Documentary Credits subject to UCP 600 13 January 2022 ISSUE As stated in UCP 600 article 2, a complying presentation means a presentation that is in accordance with the terms and conditions of the credit, the applicable provisions of UCP 600 and international standard banking practice. However, from …