DCW maintains a list of recently-decided court cases involving commercial letters of credit, demand guarantees, and other trade finance instruments.
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Regarding possible revision of ICC Rules and/or Practices, the ICC Banking Commission announced on 12 July 2022 that the deadline for feedback from ICC National Committees on the matter was extended to end- September 2022 (the closing date for comment was later specified as 5 September).
As of mid-July, insufficient feedback had been received to determine whether UCP and/or ISBP should be revised. Up to that point, an ICC survey of views on the content and structure of ICC Rules and Practices for documentary credits indicated that a majority of respondents were either “satisfied” or “very satisfied” with UCP600 (58%) and ISBP745 (56%).
The sense is that while UCP600 remains robust, there may be movement toward a revision of ISBP745 but indications from ICC are that much more feedback is needed to make a strong business case for revision.
We’re pleased to share the newest edition of DCW’s premium monthly content. This month’s highlights include: * Two
In the first of his series of DCW articles on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell examines the concept of negotiation.
In addition to treatment of two ICC Draft Opinions, highlighting the first day of the next ICC Banking Commission Meeting
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