This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
A high-level workshop for trade & supply chain finance and technology professionals was conducted on 20 February 2025 in Dubai following the ICC Banking Commission Meeting held days earlier at Dubai Chambers.
The workshop brought together key enablers in trade facilitation, the ICC Digital Standards Initiative (ICC DSI), ICC UAE, and Dubai Chambers Legal Department. A highlight of the full-day event featured ardent competition among candidates vying for top honors in the “Trade Transformation Challenge – show us what you’ve got!”
Trade Transformation Challenge Finalists (L-R): Aneel Sabir of Enigio, Tom O’Brien of China Systems, Sam Sehgal of Traydstream
Three finalists were each given 12 minutes to articulate a specific challenge facing the trade finance industry and how their advanced technology solutions provider addressed or solved the problem.
Global Shipping Business Network CEO Bertrand Chen, who led evaluation of the presentations, announced Tom O’Brien of China Systems as the outright winner based on the competition’s core criteria of identifying a problem and the advanced technology needed to solve it. The China Systems presentation delivered an effective and efficient solution, enabling the City Bank in Bangladesh to enhance its trade processing and facilitate customer acquisition in delivering seamless trade transaction processing.
Despite the competitive nature of the Challenge, the technology solutions of each presenter complimented each other and collectively add value in advancing the trade & supply chain finance environment.
This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
URDG 758 Article 15(c) makes clear that the requirement stated in Article 15(a) always applies unless expressly excluded in the guarantee, but does ISDGP help or harm in explaining this provision?
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