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Collyer Consulting held its 4th Annual Letter of Credit MasterClass in Dubai

06/05/2013 Over 135 attendees heard, amongst other topics, updates on recent ICC Opinions, the content of the new ISBP publication and features and scope of the BPO and the URBPO rules that support this new trade finance offering.

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Recent News

ICC Release two new Trade Advisory Briefing Papers 06/08/2026

Briefing Paper No...more

Nominations for ICC Taskforce on Guarantees 06/08/2026

Nominations are open for membership of the Taskforce on Guarantees, which serves as the ICC Banking Commission’s expert body on demand guarantees and related ICC rules and instruments, including URDG 758 and associated guidance...more

Latest Question

We are the nominated bank. In accordance with the issuing bank’s instruction in field 49 (“CONFIRM”), we added our confirmation to the credit and advised it to the beneficiary. Subsequently, we received a presentation from the beneficiary, accompanied by a covering schedule expressly stating that our confirmation is not accepted. In this scenario: 1. Should we terminate our confirmation, or should we disregard the beneficiary’s instruction and maintain our confirmation? 2. If the answer is to terminate the confirmation, are we still entitled to claim the confirmation charges from the issuing bank? If so, how should the period of confirmation be calculated for fee purposes?