The ICC Banking Commission returned to Dubai, UAE, for its 2025 Annual Meeting on 17 February. The one-day event was organized by ICC UAE and hosted by Dubai Chambers. In addition to those participating in-person, others attended virtually.
In the fifth instalment of his DCW article series on major contemporary issues surrounding documentary credit practice, ICC Banking Commission Senior Technical Advisor Dave Meynell offers his thoughts on the highly-charged question: Is it time for UCP to be revised?
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
Coal and stone imports from India coming into Bangladesh’s Sonahat Land Port and Chilmari River Port are being misdeclared on a consistent basis with customs officials and others tacitly facilitating the underreporting imports, according to Dhaka Tribune.
In an investigative report, Ariful Islam Rigan of Dhaka Tribune cited a recent raid conducted by the Anti-Corruption Commission (ACC) at Sonahat Land Port revealed evidence confirming allegations and implicating revenue officials, customs & freight (C&F) agents, and importers in the process.
Rigan also said “significant irregularities” have been seen in coal imports at Chilmari River Port, suggesting fraudulent activities with potential ties to money laundering.
In one instance, a revenue official admitted that a coal-laden ship from India initially declared as originating from a third country bypassed regulations through use of a new letter of credit.
The ICC Banking Commission returned to Dubai, UAE, for its 2025 Annual Meeting on 17 February. The one-day event was organized by ICC UAE and hosted by Dubai Chambers. In addition to those participating in-person, others attended virtually.
In the fifth instalment of his DCW article series on major contemporary issues surrounding documentary credit practice, ICC Banking Commission Senior Technical Advisor Dave Meynell offers his thoughts on the highly-charged question: Is it time for UCP to be revised?
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
Beyond questions on the rule of strict construction of LC terms, the In re Spiegel case should engender a discussion of the requirements of UCP vs. ISP on what certified means with respect to a government or court-issued document.
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