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June 2021

ICC releases paper addressing the automation of document examination
15/06/2021
In April 2020, the ICC Digitalisation in Trade Finance Working Group set up a subcommittee to specifically consider what is happening in the document checking automation space within Trade Finance...

Recent News

Is your automatic extension (evergreen) clause as specific as it should be? 21/04/2026

Case: Starr Indemnity & Liability Co...more

ICC release guidelines on the Application of ICC trade finance rules in the context of the Middle East conflict 17/04/2026

Please find HERE the link to the paper just released by the ICC Global Banking Commission: ...more

Latest Question

We issued an unconfirmed Letter of Credit (LC) through EXIM Bank, available with “any bank” in India. The LC was advised to the beneficiary by EXIM Bank. Subsequently, the beneficiary informed EXIM Bank that the LC had been misplaced/lost at their premises. Based on the beneficiary’s Letter of Indemnity, which was accepted by EXIM Bank, the bank issued a Certificate of True Copy (duplicate LC) to the beneficiary. EXIM Bank also requested us, as the Issuing Bank, to accept documents under the said LC only through EXIM Bank and not to accept any presentation from other banking or financial institutions, in order to mitigate the risk of dual negotiation or potential fraudulent use of the lost original LC. However, documents have now been presented through YES Bank. Kindly advise on the way forward.