November-December-2024
Discrepancy Rates under UCP 600
In the second instalment of his DCW article series on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell considers the problems contributing to chronically high discrepancy rates and offers viable solutions.
November 2024 ICC Banking Commission Meeting: Executive Summary
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.
Amid “Challenging Times”, ICC Trade Register Reinforces Low-Risk Nature of Trade Finance
In October 2024, ICC printed its 2024 Trade Register Report and released access to it electronically thereafter.
Latest TAB Sheds Light on UCP600 Article 14(d) “read in context with”
In an attempt ensure global understanding of the wording “read in context with” as used in UCP600 Article 14(d)
ADB-Led “Enhanced STR” Pilot Delivers Transformative Results
In a landmark effort to combat Trade-Based Money Laundering (TBML), the Asian Development Bank (ADB), in partnership with the United
WaveBL Completes Proof of Value for eBL Platform
Blockchain-based electronic bill of lading platform, WaveBL has announced completion of its proof of value (POV) testing with Swift, five
Maybank Singapore, PracBiz Team Up on SCF Platform
Maybank Singapore has announced collaboration with PracBiz, which will enable the bank to offer supply chain financing to qualified users
US Takes Sweeping Action against Russian Banking System
Seeking to further eliminate options for Russia’s use of the international financial system, the US Treasury’s Office of
ICC Revises Guidance on Use of Sanctions Clauses
Stemming from Kuvera Resources Pte Ltd. v. JPMorgan Chase Bank, N.A. where the High Court of Singapore determined that
Risky and Uncertain Situations in Negotiation of LCs
The LC concept of negotiation has led to considerable misunderstanding and confusion in practice. In his article, Abdurrahman Özalp attempts to wade through areas of uncertainty and cast light on difficulties that confirming banks and beneficiaries could encounter.
Analysis and Insights on ISP98 Rule 4.18
Explore ISP98 Rule 4.18 on negotiable documents, addressing endorsement, presentation, and transfer in standbys, with analysis and insights.
SBP Vision 2028 and Pakistan’s Transformation to a Shariah-Compliant Banking System
Pakistan has embarked on an ambitious multi-year plan to transform its financial system into a Shariah-compliant framework by 2028. Two trade finance specialists explain what this entails and the inherent challenges and opportunities it presents.
