This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
Summary takeaways from the ICC Banking Commission Technical Meeting
-- link to Kuvera case
Lloyds Bank executes the first digital trade transaction using Enigio's trace:original platform on the day the UK Electronic Trade Documents Act (UK ETDA) went into effect.
Standard Chartered, Truist Bank Form Trade Finance Partnership to allow their customers to conduct global business more efficiently.
Following revision of its Terms of Reference for handling the technical side of its work, the ICC Banking Commission announced the confirmation of Ms. Farideh Tazhibi of ICC Iran and Mr. Jin Saibo of ICC China as Technical Advisors.
David Meynell updates the ICC on the UK Electronic Trade Documents Act (ETD Act), highlighting its synergy with the UN Model Law, ICC rules, and practice guidelines. The paper explores key clauses, emphasizing harmonization and functional equivalence between the ETD Act and international frameworks.
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