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BREAKING NEWS: ICC Banking Commission approves ISDGP

31/03/2021 At the virtual ICC Banking Commission meeting today, the Commission approved the release of the ISDGP (International Standard Demand Guarantee Practice) publication. Only 2 countries voted against the text. More details will be provided in the members Spring/Summer 2021 Newsletter that will be released soon.

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Recent News

Enabling digital trade through legal reform: A guide for policymakers and practitioners 12/05/2026

The ICC’s Digital Standards Initiative recently published a new MLETR implementation guide “Enabling digital trade through legal reform: A guide for policymakers and practitioners”, to support adoption of legally recognised electronic transferable records...more

Is your automatic extension (evergreen) clause as specific as it should be? 21/04/2026

Case: Starr Indemnity & Liability Co...more

Latest Question

The credit calls for 'FULL SET OF ORIGINAL INSURANCE CERTIFICATE / POLICY IN ASSIGNABLE FORM AND ENDORSED IN BLANK, COVERING ALL RISKS FOR AT LEAST 110PCT OF THE INVOICE VALUE, SHOWING CLAIMS PAYABLE IN VIETNAM IN THE INVOICE CURRENCY'. The presented invoice is for the amount of USD20,000. The insurance document shows insured amount is USD22,000 and 'claims payable in Vietnam', with a lack of 'in invoice currency'. Can the insurance document be treated as discrepant because of not showing 'claim in the invoice currency'?