November 2024 ICC Banking Commission Meeting: Executive Summary
The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
2024 Americas LC Law Summit: Executive Summary
For the 25th consecutive year, the Institute of International Banking Law & Practice conducted its one-day Letter of Credit Law Summit. This Executive Summary provides an overview of topics discussed and debated at the conference hosted by Hogan Lovells in New York and conducted as a hybrid event.
2024 ABA/ABA Financial Crimes Enforcement Conference: Executive Summary
Conducted by the American Bar Association and the American Bankers Association (ABA), the 36th annual ABA/ABA Financial Crimes Enforcement Conference took place 8-9 October 2024 in Arlington, Virginia.
ICC Defines Trade Finance
Expressing concern that a poorly constructed definition of trade finance could cause unintended negative consequences for the business, the ICC
Righting an Irregular Presentation … with a Twist
Beneficiary presented late shipment documents under an LC. The issuing bank deducted penalties without a refusal notice, raising debate on clause 47A-7, UCP 600, and consent.
2024 Singapore Annual LC Survey • Executive Summary
This Executive Summary provides an overview of topics discussed and debated by leading professionals at the conference.
ICC Opinions Finalized at July 2024 Session
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
ICC Banking Commission: AI in Opinion Analysis and Updates on ISBP Review
Following the discussion of ICC Opinions on 2 July 2024, updates on other ICC Banking Commission projects were given. ICC
Latest ICC Briefing Paper on UCP600 Practice Addresses Amendments
In an attempt to clarify aspects of UCP600 Article 10, the ICC Banking Commission has issued its 10th Technical Advisory
LC Requirements for US Entities Seeking Rural Broadband Support Scrutinized
The US Federal Communications Commission (FCC) which oversees program requirements for entities attempting to secure federal funding support for broadband
Seeking Best Practice on Tracing Standby LC Detrimental Amendments
In a bankers’ discussion this month, conversation focused heavily on standby LCs, particularly the handling of amendments. One of questions