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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. These include an overview of the Opinions that were approved.


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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

ISBP 821 PRELIMINARY CONSIDERATIONS paragraph (viii) states: A request to insert the credit number on a document is usually at the instigation of the issuing bank in order to facilitate the collation of documents should one or more documents become detached from the presentation. Provided all the stipulated documents are received by the issuing bank, the absence of a credit number or the mistyping of that number on a document does not constitute a reason for refusal. The exception to this position is where it is a requirement of the importing country that the credit number be stated on one or more documents. In such circumstances, the credit must clearly indicate that this is the reason for the number to be shown on that or those documents. Question: In my opinion, where the credit ONLY calls for “All documents must show the credit number”, which is at the instigation of the issuing bank in order to facilitate the collation of documents, the above texts apply. When the credit stipulates the following clauses, which is not at the instigation of the issuing bank in order to facilitate the collation of documents, the above texts do not apply: 1. “All documents must show the issuing bank’s name, credit number and issuance date”; 2. “All documents must show the credit number and issuance date” 3. “All documents must show the credit number except the cert of analysis”; 4. “The cert of analysis must not show the credit number except other documents”; 5. “The cert of analysis must show the credit number”; 6. “All documents must not show the credit number”; 7. “All documents must show the credit number at the request of the applicant”; 8. “All documents must show the credit number for the reason: XXXXXX”. Please confirm.