The ICC Banking Commission has identified five work areas that are key to its success.
International trade is however, constantly evolving, and the framework of rules must keep track, adjusting to changing conditions and meeting new requirements. Our task forces and working groups are currently working to overhaul the rules in a number of different fields such as international standard banking practice and forfaiting.
These service lines include Traditional Trade Services, Open Account and Supply Chain Financing, Global Regulation, Legal and Compliance Issues, Risk and Asset Management.
With its broad remit and well over 600 members, the Banking Commission is the largest of ICC's commissions.
This service line includes the traditional rule-making activities of the Banking Commission, in particular:
This service line includes projects related to global supply chain financing, in particular the Bank Payment Obligation (BPO) project, and the drafting of guidelines in the fields of open account, factoring and forfaiting.
This service line handles the relationship with, or projects linked to, the work of international organizations apt to making overarching recommendations to regional or national organizations.
This service line will act as general forum to member banks' legal and compliance departments. It has been established for the discussion of topics of interest to the membership, who can recommend action at the Commission or ICC level where needed. The service line deals with implementation through regional or national laws relating to banking and financial transactions, and acts as legal advisor on any legal and compliance aspect relevant to the work of any of the other four topic areas or any topic selected by the Commission.
This service line includes credit insurance, assignments and standardization of credit documents, Export Credit Agency (ECAs)/Multilateral Development Banks (MDBs).