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.
Following release and review of Technical Advisory Briefing No. 1 (Non-Documentary conditions in Documentary Credits subject to UCP 600), ICC Banking Commission Senior Technical Advisor David Meynell announced subjects that will be addressed in subsequent Technical Advisory Briefings (TABs):
TAB-2 = “Meaning of ‘without delay’ in UCP 600”
TAB-3 = “Reducing discrepancy rates under Documentary Credits”
TAB-4 = “Lost documents”
All three Briefings are presently under varying stages of development and the ICC Banking Commission is eager to receive more feedback (via ICC National Committees) on other possible topics. TAB-2 is projected for release in March 2022 with other TABs expected to be rolled out on an individual basis every couple of months.
Meynell also hinted that ICC National Committees could soon have a look at ISBP (International Standard Banking Practice) with a view towards possible revision.
