News

News by Month

Autumn 2022 Newsletter added to Member Information section

01/11/2022 The latest newsletter providing details of the Opinion approved by the ICC at its meeting on 19 October, together with the text of the fourth Technical Advisory Briefing document can be found in the Members Information section under the Newsletters / Articles / External Publications tab. In addition, there is news on possible revisions for ISBP, eUCP and eURC.

Back to recent news

Latest Question

Refer to UCP 600 article 39. The presenting bank (bank B) has sent a full set of documents to the issuing bank (bank A) and bank A has sent an advice of acceptance to bank B and will effect payment on the due date. Before due date, bank B requested bank A to assign full proceeds to bank C. Subsequently, before due date, bank C requested bank A to assign full proceeds to bank D. Question: 1. Beginning, can bank A refuse bank B’s assignment request, and insist on effecting payment to bank B on due date? Bank A informed bank B as follows: The assignment agreement exists between your bank, the beneficiary and bank C, our bank is not a party of the assignment agreement, we refuse your assignment request. At due date, we will effect payment to your bank. After receipt of the proceeds, your bank may assign proceeds to bank C at the request of the beneficiary. 2. If bank A agreed bank B’s assignment request and replied “at due date, we will effect payment to bank C”, can bank A refuse bank C’s assignment request, and insist on effecting payment to bank C on due date? Bank A informed bank C as follows: As per UCP 600 article 39, only the beneficiary has the right to assign any proceeds, we have agreed effecting payment to your bank on due date at request of the beneficiary and bank B, we refuse your assignment request. At due date, we will effect payment to your bank. After receipt of the proceeds, your bank may assign proceeds to bank D.

News

News by Month

Autumn 2022 Newsletter added to Member Information section

Recent News

ICC Trade Advisory Briefing list updated 28/08/2025

TradeSpeed - the Automated Document Examination platform of choice 22/08/2025

Latest Question