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

Archives 2010 :

ICC to launch online training for recently released demand guarantee rules

Paris, 5 October 2010

The International Chamber of Commerce has further expanded its online trade training offering with the launch of URDG Master, advanced online training in Uniform Rules for Demand Guarantees (URDG) 758 and demand guarantees.

International Chamber of Commerce, Asian Development Bank set up trade finance register
Paris, France and Manila, Philippines, 29 September 2010 The International Chamber of Commerce and the Asian Development Bank have created a database of trade finance transactions that show the low-risk nature of lending and guarantees to support imports and exports.

ICC Banking Commission convenes top-level meeting on the future of trade and finance
Paris, 2 September 2010 ICC is set to stage its most forward-looking deliberation to date on the future of trade and finance later this month, attracting over 300 of the world’s most eminent bankers, business leaders and finance experts.

ICC issues recommendations to shed light on requirements for on board notation
Paris, 18 August 2010 In response to recurrent requests for ICC opinions on the subject, ICC has published recommendations to help clarify requirements, and to guide banks in the correct interpretation and application of the ICC Uniform Customs and Practice for Documentary Credits in relation to on board notations.

ICC appoints new Chair of Banking Commission
Paris, 11 August 2010 ICC’s Chairman, Rajat Kumar Gupta, has appointed Tan Kah Chye, Global Head of Corporate Cash and Trade at Standard Chartered Bank, as the new Chair of the ICC Commission on Banking Technique and Practice.

New rules for demand guarantees effective 1 July
Paris, 30 June 2010 Securing an array of international and domestic monetary and performance obligations, ICC's new Uniform Rules for Demand Guarantees enter into effect tomorrow.

ICC advocates a more strategic regulatory treatment of trade finance
Paris, 9 June 2010 ICC has called for a more benevolent treatment of trade finance, given the potential international trade has to drive the world out of recession.

Too soon to withdraw support, trade finance experts conclude
Paris, 27 May 2010 Despite improvements over the last year, trade finance markets remain fragile and it would be premature to wind down official support, at least for the immediate future according to the Expert Group on Trade Finance who met in Geneva last week under the chairmanship of World Trade Organization Director-General Pascal Lamy.

ICC concerned trade finance may suffer due to proposed bank leverage rules
Paris, 4 May 2010 ICC has expressed concern that proposals to introduce a new framework to limit excessive leverage in the world’s banking system may have unintended, negative consequences on trade finance, and it urged the creation of a special trade finance working group to examine the problem.

Prospects for strong trade recovery mixed, ICC report says
Paris, 22 April 2010 Prospects for a strong and lasting trade recovery are mixed, with access to affordable trade finance constrained, trade protectionism still a problem, and banks facing tougher capital requirements for their trade assets, a major new survey on trade finance by the International Chamber of Commerce (ICC) said today.

Volcanic eruption delaying delivery of documents under ICC rules
Paris, 21 April 2010 The unprecedented situation resulting from the volcanic eruption has led to delays in the presentation of documents by beneficiaries and banks to nominated banks, issuing banks, guarantors and instructing parties, due to the inability of courier companies to deliver packages in accordance with their published schedules.

ICC postpones banking meeting in Beijing
Paris, 19 April 2010 The International Chamber of Commerce regretfully announces the postponement of its Banking Commission Spring meeting and its related events due to take place in Beijing on 21-23 April.

ICC China to host Trade Finance Forum in Beijing
Beijing, 7 April 2010 The Chinese capital will host a series of events this month on banking and trade issues, including a regular meeting of the ICC Commission on Banking Technique and Practice and the ICC China Trade Finance Forum, which will bring together world experts to discuss subjects including trade finance and dispute resolution issues.

ICC expanding educational activities on trade rules
Paris, 30 March 2010 ICC is expanding its educational activities on trade rules through the launch, by the European Bank for Reconstruction and Development (EBRD), of an online training programme for its member issuing banks in 29 countries operating from Central Europe to Central Asia.

ICC releases guidelines on sanction clauses in trade related products
Paris, 26 March 2010 The ICC Banking Commission Task Force on Anti-Money Laundering today released guidelines on sanction clauses in trade related products, including letters of credit, documentary collections and guarantees.

ICC unveils new rules for demand guarantees
Paris, 18 March 2010 In an effort to provide greater financial security following the global recession, the International Chamber of Commerce (ICC) today unveiled an extensively revised version of the Uniform Rules for Demand Guarantees (URDG), which will be instrumental in adopting uniform practices in trade finance.

ICC to host major banking conference in China
Beijing, 16 March 2010 More than 300 of the world’s top banking leaders and experts will assemble in Beijing on 23rd April 2010 for a unique event to discuss key issues and solutions for speeding-up recovery from the economic crisis.

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.

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