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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.

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Letters of Credit Are Not Disappearing; They Are Evolving! 24/09/2026

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Lloyds, SocGen turn to eUCP for digital letters of credit 18/09/2026

Société Générale and Lloyds have completed a fully digital trade transaction between the UK and France, using Enigio’s technology, in what the French lender describes as a first-of-its-kind deal...more

Latest Question

An issuing bank issued a letter of credit that omitted the country of origin. The advising bank subsequently requested clarification from the issuing bank. In response, the issuing bank transmitted an MT799 message stating: "Please read country of origin as UAE under field 45A." This SWIFT notification was duly forwarded to the beneficiary. The beneficiary has now presented documents. However, the commercial invoice omits the country of origin within the goods description section. Given that the country of origin was received via MT799 in response to the advising bank's clarification, does the omission of this information on the commercial invoice constitute a valid discrepancy?