Collyer Consulting

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Achieving inclusive AI - a paper issued by ICC 08/07/2025

With AI becoming more and more involved with trade finance, the ICC has issued the following paper...more

ICC release Technical Advisory Briefing No. 11 - Definition of Trade Finance 19/09/2024

Recognising that there is no global standard for the defining Trade Finance, this Briefing document provides a suggested text and has been recommended for use by the ICC Banking Commisison Steering Committee...more

Latest Question

Could you please advise if the presentation is discrepant or not? A standby subject to ISP98 has the following clause: Beneficiary can claim under the standby by presenting a statement of default certifying the applicant has not paid invoices within 60days after shipment date including invoice no.123. The beneficiary presents a statement of default certifying the applicant has not paid invoices within 60 days after shipment date including invoice no.123. And an invoice no.123. The thing is the invoice no. 123 is not addressed to the standby LC but another named entity. The issuer refused due to the invoice not being made out in the name of the standby applicant. The issuer believes there are two kinds of document required under this standby. However, the beneficiary argued that the standby only requires the statement of default with the certified content quoting exactly as per standby term. And sending invoice no.123 is only for reference, if applicable. Please advise.

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September 2013

Recent News

Achieving inclusive AI - a paper issued by ICC 08/07/2025

ICC release Technical Advisory Briefing No. 11 - Definition of Trade Finance 19/09/2024

Latest Question