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Official release of ICC Global Trade and Finance Survey Report 2014

04/07/2014

The 2014 edition comprises data from 298 banks in 127 countries, with an expanded look at trade finance gaps; regional studies for South America and Eastern Europe; global value chains and new trade facilitation initiatives; availability of trade finance, and the tangible effect of various regulations around the world.

The report can be downloaded from this link: http://www.iccwbo.org/Products-and-Services/Trade-facilitation/ICC-Global-Survey-on-Trade-Finance/ 


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Spurious Emails 24/11/2025

There appears to be some spam messages circulating apparently from an email address                                      no-reply@collyerconsulting...more

Autumn 2025 Newsletter added to the Members Trade Information section 31/10/2025

This newsletter covers the 6 opinions that were approved by the ICC Banking Commission on 21 October...more

Latest Question

1/ According to the Guarantee, the Guarantee is governed by the URDG and the law of Italy. The guarantee document does not specify the exact content of the Demand Document when claiming the payment. In this case, does the content in the guarantee exclude the provision of sub-article 15 (a) in the URDG? Or does the Demand Document still need to comply with the requirements of sub-article 15 (a) of the URDG when claiming payment (e.g., indicating in what respect the applicant is in breach of its obligations under the underlying relationship)? 2/ Regarding this clause: 'against your first written demand and this notwithstanding any objection of whatever nature by ABCDE Mechanical Construction Joint Stock Company or any third party and without necessity of any legal or judicial proceedings', if there is a court order to suspend the payment, is the Guarantor allowed to stop the payment and comply with such order? /QUOTED/ FORM OF BANK GUARANTEE FOR ADVANCE PAYMENTS We, XYZ bank, with main office in [address] guarantee to you on behalf of ABCDE Mechanical Construction Joint Stock Company for the amount of USD 783,848.75 (In words: Seven hundred eighty-three thousand, eight hundred forty-eight dollars and seventy-five cents). This bank guarantee comes into force only after the receipt by the Guarantor of USD 783,848.75 (In words: Seven hundred eighty-three thousand, eight hundred forty-eight dollars and seventy-five cents). for further credit to the applicant’s account no. 12345678 (USD Account) with the Guarantor, provided such remittance identifies this guarantee no. (insert when issue officially) and the contract no. xyz and valid for the whole amount until 06/15/2027 Demand(s) for payment and document under this guarantee must be made in English and quote this guarantee number and submitted in paper by the beneficiary's bank in one lot by courier to our counter at above mentioned address (attention: [name]) on or before the expiry date. This Guarantee is governed by/subject to the latest version of Uniform rules for Demand guarantee (URDG), ICC Publication but to the extent the practices make no provision for the matter in question, this Guarantee is governed by/subject to the laws of Italy. /UNQUOTE/