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Uniform rules for documentary credits, collections, bank-to-bank reimbursements and demand guarantees.

Revised Uniform Rules for Demand Guarantees available from ICC bookstore

Paris, 9 February 2010

The newly revised Uniform Rules for Demand Guarantees have been published and are now available for purchase from the ICC bookstore, giving practitioners a chance to familiarize themselves with the extensive changes before they come into effect on 1 July.

ICC announces new rules for demand guarantees
New Delhi, 4 December 2009 ICC today announced a revised version of the Uniform Rules for Demand Guarantees (URDG) destined to apply to hundreds of billions of dollars of demand guarantees securing monetary and performance obligations in a wide array of international and domestic contracts.

Global economy will remain on shaky ground, says new ICC trade finance survey
Paris, 7 September 2009 The global economy is still on shaky ground, and despite budding signs of recovery, evidence is not strong enough to conclude that the current recession is waning, according to an ICC report on trade finance released today.

UN endorses ICC Documentary Credit Rules
Vienna, 20 July 2009 ICC’s most recent revision of the Uniform Customs and Practice for Documentary Credits (UCP 600) was officially endorsed by the UN Commission on International Trade Law (UNCITRAL) at its 42nd annual session in Vienna.

ICC-IFA to draft trade finance forfaiting rules
Paris, 24 June 2009 ICC and the International Forfaiting Association (IFA) have created a joint drafting group to prepare new global forfaiting rules, the ICC Banking Commission announced today.

ICC Banking seminar to focus on the future of world financial markets
Paris, 8 June 2009 The challenges of rebuilding the world’s financial markets in the aftermath of the global recession will be the theme of a seminar hosted by ICC later this month in Monaco.

ICC to hold workshop on issuing documentary credits in current downturn
Paris, 23 April 2009 ICC will hold a one-and-a-half day workshop in Paris on 18-19 June to show how a better structure of the letter of credit itself and the correct application of the UCP 600 rules can help all parties better manage the documentary credit process and alleviate many of the problems being experienced at this critical time.

G20 must take action to fight protectionism and support trade finance to keep trade flowing
Paris, 31 March 2009 Leaders of the G20 countries must coordinate their national policies to end the global recession support a monitoring system to honour previous promises to reject protectionism, and restore trade financing to more normal levels, ICC said today.