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ICC releases its decision on a revision of UCP 600

15/06/2017 At the ICC Banking Commission meeting held in Jakarta in Aril 2017, it was decided that there was no current justification for a revision of the UCP 600. The ICC has now issued a paper outlining the rationale for that decision. A copy can be obtained from the link below.

ICC Decision - UCP 600 Revision.pdf

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Spring 2026 Newsletter added to the Members Trade Information section 02/04/2026

The content of this latest newsletter reflects on the discussions at the recent ICC Banking Commission meeting around a possible revision of UCP 600 and the continual updating of ISBP...more

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At the end of 2025, the ICC Banking Commission requested feedback from its members as to whether it was time for a revision of UCP 600 and/or an update to ISBP 821...more

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Standby issued subject to ISP98 requires a statement stating that the applicant has violated the obligation under the contract and beneficiary requests return of the advance payment and indicate the correct BG number. Beneficiary has submitted a claim showing the above statement but the contract number and standby expiry date differ from the standby. Standby is showing contract number as : /2025/ABC whilst claim showing 1224/2025/ABC The expiry date is 10 Apr 2026 whilst claim is showing standby expiry date is 09 Apr 2026. Please advise if the above would be viewed as conflicting data with the standby and hence a discrepancy.