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Spring/Summer 2020 Newsletter added to Members Trade Information section

04/06/2020 The latest newsletter has been added to the Members Trade Information page. This newsletter includes an overview of the 5 Opinions that have recently been approved by the ICC Banking Commission and released by the ICC today. It also provides an overview of the ICC Guidance paper concerning the handling of trade finance transactions subject to ICC rules during the COVID-19 pandemic.

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ICC Trade Advisory Briefing list updated 28/08/2025

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TradeSpeed - the Automated Document Examination platform of choice 22/08/2025

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Latest Question

When the remitting bank’s charges are to be borne by the drawee, as per URC 522 article 4 (b) (viii) “charges to be collected, indicating whether they may be waived or not”, the remitting bank must indicate such information on the collection instruction and indicate whether they may be waived or not. When the remitting bank’s charges are to be borne by the principal, the collection instruction would not show their charges. When the collecting bank’s charges are to be borne by the principal, as per URC 522 sub-article 21 (c) “In all cases where in the express terms of a collection instruction or under these Rules, disbursements and/or expenses and/or collection charges are to be borne by the principal, the collecting bank(s) shall be entitled to recover promptly……”, the remitting bank should indicate such information on the collection instruction Question: When the collecting bank’s charges are to be borne by the drawee, must the collection instruction indicate such information? In other words, if not, i.e., the collection instruction is silent with regard to the collecting bank’s charges, the collecting bank may collect their charges from the principal and deduct their charges from the payment. Is it reasonable?