17/04/2013At the ICC Banking Commission meeting held in
Lisbon, both the URBPO (Uniform Rules for Bank Payment Obligation) and
the ISBP (International Standard Banking Practice for the Examination of
Documents under UCP 600) were resoundly approved. The URBPO were
approved with no country voting against adoption. Only one country voted
against the adoption of the ISBP. Over the coming weeks various
articles will be added to the site covering the BPO and ISBP.
Recognising that there is no global standard for the defining Trade Finance, this Briefing document provides a suggested text and has been recommended for use by the ICC Banking Commisison Steering Committee...more
This briefing, focussing on the acceptance and rejection of amendments, describes the necessary process for the proper handling of tamendments and the best practices associated with determining their acceptance or rejection...more
