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CIMB Bank and China CITIC Bank announce new BPO transaction

13/07/2014 CIMB Bank has announced that it became the first Malaysian bank to complete a BPO transaction. The transaction was completed in collaboration with China CITIC Bank. As a result, there are now 12 banks that can be considered "live BPO banks".

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Is your automatic extension (evergreen) clause as specific as it should be? 21/04/2026

Case: Starr Indemnity & Liability Co...more

ICC release guidelines on the Application of ICC trade finance rules in the context of the Middle East conflict 17/04/2026

Please find HERE the link to the paper just released by the ICC Global Banking Commission: ...more

Latest Question

We have received a credit with multiple items in field 45A in a list. Partial shipment allowed. One of those items states: QUANTITY:1687 MT, UNIT PRICE: USD 33,15, VALUE:USD 55,924.05. Multiple presentations have been made. The said item was shipped partially. In the latest presentation, the quantity for the said item was complete and stated as 4.50MT, which is the outstanding balance, unit price is USD 33.15 and the total amount is USD 149.18. When we check the shipped amounts in the previous presentations for this item, the total value now equals 55,924.06. By the way, there is still an outstanding balance on the LC regarding other items in field 45A. We believe that we have two options here. First, the invoice can show the total value as USD 149.17 since under ISBP821 paragraph A22 banks do not need to do mathematical calculations (MTxUnit Price) or invoice can still show the exact mathematical amount which is USD 149.18 and we can accept it by claiming the payment from the issuing bank for USD 149.17 (less USD 0.01) under UCP 600 sub-article 18 (b). Do we have the both options explained above? Additionally, can we apply sub-article 18 (b) to only one item in field 45A?