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Winter 2013-2014 Newsletter added to Members site

13/02/2014 The winter 2013/2014 newsletter has been added to the newsletter section of the Members Information area. This newsletter provides further information relating to the BPO and the URBPO rules, as well as looking specifically at ISBP 745, paragraph A4 and the requirement for dating of certificates.

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Recent News

Spurious Emails 24/11/2025

There appears to be some spam messages circulating apparently from an email address no-reply@collyerconsulting...more

Autumn 2025 Newsletter added to the Members Trade Information section 31/10/2025

This newsletter covers the 6 opinions that were approved by the ICC Banking Commission on 21 October...more

Latest Question

We, as issuing bank, issued a credit to an advising bank (BANK A) which is available with BANK A by negotiation and authorised BANK A to add confirmation. The reimbursement clause in FIELD 78 is quote +UPON RECEIPT OF DOCUMENTS AND DRAFTS (IF ANY) AT OUR COUNTER IN COMPLIANCE WITH TERMS AND CONDITIONS OF THIS CREDIT, WE WILL HONOUR OR REIMBURSE THE NOMINATED BANK AS INSTRUCTED unquote Later, we received Swift message from BANK A quote + PLEASE NOTE THAT REIMBURSEMENT CLAUSE UNDER FIELD 78 NOT SUITABLE FOR IN CASE OF ADDING OUR CONFIRMATION.HENCE WE REQUEST YOUR GOOD BANK TO PROVIDE BELOW MODIFICATION IN ORDER TO ADD CONFIRMATION IF BENEFICIARY REQUESTED ''UPON RECEIPT OF DOCUMENTS AND DRAFTS (IF ANY) AT YOUR COUNTER IN COMPLIANCE WITH TERMS AND CONDITIONS OF THIS CREDIT WE WILL HONOUR OR REIMBURSE THE NOMINATED BANK AS INSTRUCTED.'' unquote Question: The only difference between our wording of the credit and the suggested wording by BANK A is ‘at our counter’ and ‘at your counter’ .If we amend our reimbursement clause as per bank A’s requirement, does it mean that although the suggested wording not specifically stated “T/T reimbursement allowed’, Bank A can still claim on us by Swift message and why?