ICC issues Interpretative Paper on the application of UCP 600 article 35


Following the release of the ICC Guidance paper on the impact of COVID-19 on trade finance transactions subject to ICC rules on 6 April 2020, certain comments had been made by lawyers and law firms regarding the reference in sections B and C sub-sections (iii)-(v) of the ICC Guidance paper to a nominated bank being protected by UCP 600 article 35, where documents could not be handed over to a courier or postal service. In response to this, it was decided that the ICC would issue a paper clarifying the scope of the first paragraph of UCP 600 article 35.

This paper, which is described as an interpretative paper on the correct interpretation of the first paragraph of UCP 600 article 35, has now been issued and can be downloaded here 
COVID - Interpretative Paper on Article 35 UCP 600.pdf.

Back to recent news

Recent News

Collyer Consulting 'virtual' Letter of Credit MasterClass 2020 24/07/2020

For many people that are based in the Middle East region, I have been conducting an annual Letter of Credit MasterClass for the last 10 years...more

ICC releases the 2020 Global Survey on Trade Finance incorporating an assessment of the impact of COVID-19 21/07/2020

The International Chamber of Commerce’s (ICC) 11th annual Global Survey on Trade Finance reveals that banks are optimistic about the evolving nature of trade finance, though unsurprisingly expect various industry-wide challenges and disruption as a result of the COVID-19 pandemic...more