Following the approval of the International Standard Banking Practice (ISBP) Publication 745, the ICC has announced that two previously approved Opinions have now been withdrawn due to contrasting positions that appear in ISBP.
18/06/2013ICC Opinion R751 is
superceded by the content of paragraphs D1 (c) and E1 (a) i.e., that the
routing in the credit will determine the applicable article of UCP when
the wrong or inappropriate transport document is indicated. ICC Opinion
R766 is superceded by paragraph K10 (c) i.e., that an insurance
document dated later than the date of shipment but indicating coverage
is made on a warehouse-to-warehouse basis will not be evidence that
insurance was effective as of the date of shipment.
Wilbert Ward Trade Finance Excellence Award for 2026 10/11/2026
At the ICC Banking Commission in London on 9 November, I was honoured to receive the inaugural Wilbert Ward Trade Finance Excellence Award for 2026...more
Letters of Credit Are Not Disappearing; They Are Evolving! 24/09/2026
