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Winter 2015-2016 Newsletter now available

06/02/2016 Members will find the latest newsletter (Volume VIII) in the Member Trade Information section of the website. This newsletter contains an overview of the Opinions that were approved and released by the ICC Banking Commission on 5 February 2016. It also contains an overview of a few selected paragraphs of ISBP 745, Section B.

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Recent News

ICC Release two new Trade Advisory Briefing Papers 06/08/2026

Briefing Paper No...more

Nominations for ICC Taskforce on Guarantees 06/08/2026

Nominations are open for membership of the Taskforce on Guarantees, which serves as the ICC Banking Commission’s expert body on demand guarantees and related ICC rules and instruments, including URDG 758 and associated guidance...more

Latest Question

We are the nominated bank. In accordance with the issuing bank’s instruction in field 49 (“CONFIRM”), we added our confirmation to the credit and advised it to the beneficiary. Subsequently, we received a presentation from the beneficiary, accompanied by a covering schedule expressly stating that our confirmation is not accepted. In this scenario: 1. Should we terminate our confirmation, or should we disregard the beneficiary’s instruction and maintain our confirmation? 2. If the answer is to terminate the confirmation, are we still entitled to claim the confirmation charges from the issuing bank? If so, how should the period of confirmation be calculated for fee purposes?