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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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Recent News

Collyer Consulting Trade Finance Masterclass to return to Dubai in 2026 18/09/2025

The widely acclaimed MasterClass event (a two-day event) will return to Dubai in 2026...more

ICC Trade Advisory Briefing list updated 28/08/2025

The list of ICC Trade Advisory Briefing notes has been updated with numbers 13 and 14...more

Latest Question

Bill of lading is signed by the agent as agent on behalf of the carrier and showing the carrier as AKK. The carrier is identified as only AKK (the carrier: AKK) and it is not clear whether it is the title of the carrier or just an abbreviation. Besides, there is no information on the bill of lading regarding the full name of the the carrier. So, we are unable to identify who is the carrier. Attaching our advice of refusal and the response from the advising bank below. Is showing only letters as carrier (which is unknown not like MSC or any other known shipping company) on bill of lading sufficient to accept it as compliant in terms of the signing the document? OUTGOING SWIFT MESSAGES (SENT) ACK WAS RECEIVED :77J: DISCREPANCIES +CARRIER IS NOT IDENTIFIED ON B/L. 'AKK' IS AN INCOMPREHENSIBLE INFORMATION ABOUT CARRIER ON ITS FACE OF THE DOC :77B: REGULATORY REPORTING /NOTIFY/ INCOMING SWIFT MESSAGES (APPROVED) SWIFT AUTH. CORRECT :79: NARRATIVE RE YR MT734 DD250916 FOR USD60021.86 UNDER YR LC NO.12345 WITH OUR REF 56789 . PLS BE ADVISED WE DO NOT AGREE WITH YR ALLEGATION OF DISCREPANCY IN A/M MESSAGE DUE TO THE FACT THAT THE CARRIER AS AKK IS IDENTIFIED ON B/L AND AKK IS AN OBVIOUS INFORMATION ON ITS FACE OF THE DOC.EVEN IF WE ALSO HAVE NO IDEA OF WHICH SHIPPING COMPANY IT STANDS FOR. . WITHIN THE FIELD AT THE BOTTOM RIGHT CORNER OF THE B/L,THERE IS NO EXTRA INFORMATION.THERE WOULD BE NO DIFFICULTIES FOR YR GOOD BANK TO EASILY INDENTIFY AKK AS CARRIER,WHILE MRF INTERNATIONAL FORWARDING CO.,LTD AS ITS AGENT.MOREOVER,THE IDENTITY OF CARRIER CANNOT BE DENIED SIMPLY BECAUSE ITS NAME IS PLACED ON THE SECOND LINE. THE FORM OF THE SIGNATURE COMPLIES WITH THE REQUIREMENT OF UCP600 SUB-ARTICLE 20(A)(I). . THEREFORE THERE SHOULD NOT BE ANY DISCREPANCIES UNDER THIS COMPLIANT PRESENTATION.ACCORDING TO ARTICLE 16F OF UCP600,YOU ARE NOW PRECLUDED FROM CLAIMING OUR PRESENTATION NOT COMPLIANT.PLS ACCEPT DOCS WITHOUT DELAY AND CONFIRM US NO DISCREPANCIES FEES TO BE DEDUCTED. . THKS FOR YOUR COOPERATION. REGARDS.