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December 2014

Autumn & Winter 2014 Newsletter added to Members section
10/12/2014
A new newsletter has been added to the members section providing details of some of the issues discussed at the ICC Banking Commission meeting held in Istanbul on 5 and 6 November 2014...

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

Under a transferable credit the first beneficiary is allowed to substitute only invoice and draft. If the first beneficiary only substitutes its own drafts for those of the second beneficiary but does not substitute its own invoices, after the issuing bank receives the documents, how to describe the discrepancy? A. The second beneficiary invoices presented I/O the first beneficiary invoices. B. The beneficiary invoices not presented. C. Presented invoices not issued by the beneficiary and not made out to the applicant.