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Spring 2024 Newsletter added to the Members Trade Information section

30/04/2024 The latest newsletter is now available in the members trade information section under the category of 'Newsletters'. This newsletter contains details of the 2 ICC Opinions that were approved at the ICC Banking Commission meeting held on 9 April 2024.

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Recent News

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

We, as issuing bank, issued a credit to an advising bank (BANK A) which is available with BANK A by negotiation and authorised BANK A to add confirmation. The reimbursement clause in FIELD 78 is quote +UPON RECEIPT OF DOCUMENTS AND DRAFTS (IF ANY) AT OUR COUNTER IN COMPLIANCE WITH TERMS AND CONDITIONS OF THIS CREDIT, WE WILL HONOUR OR REIMBURSE THE NOMINATED BANK AS INSTRUCTED unquote Later, we received Swift message from BANK A quote + PLEASE NOTE THAT REIMBURSEMENT CLAUSE UNDER FIELD 78 NOT SUITABLE FOR IN CASE OF ADDING OUR CONFIRMATION.HENCE WE REQUEST YOUR GOOD BANK TO PROVIDE BELOW MODIFICATION IN ORDER TO ADD CONFIRMATION IF BENEFICIARY REQUESTED ''UPON RECEIPT OF DOCUMENTS AND DRAFTS (IF ANY) AT YOUR COUNTER IN COMPLIANCE WITH TERMS AND CONDITIONS OF THIS CREDIT WE WILL HONOUR OR REIMBURSE THE NOMINATED BANK AS INSTRUCTED.'' unquote Question: The only difference between our wording of the credit and the suggested wording by BANK A is ‘at our counter’ and ‘at your counter’ .If we amend our reimbursement clause as per bank A’s requirement, does it mean that although the suggested wording not specifically stated “T/T reimbursement allowed’, Bank A can still claim on us by Swift message and why?