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Autumn & Winter 2019 Newsletter has now been added to the Members area

11/10/2019 The Autumn & Winter 2019 newsletter contains an overview of the 5 opinions that were approved at the ICC Banking Commission meeting held in Paris on 8 October. The newsletter also provides some information on the aims and drafting process for the new digital trade rules known as the Uniform Rules for Digital Trade (URDT).

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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

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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?