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.
A member of the ISP drafting group offers perspective on the vision, birth, development, and future of the international rules built 25 years ago for standby LC practice.
Potentially game-changing amendments have been proposed for the Uniform Commercial Code (UCC) to govern commercial transactions, including Articles 2 (Sales), 3 (Commercial Paper), 5 (Letters of Credit), and more.
