Latest Blog Post

Husking Trade Finance

Husking Trade Finance

by Shahriar Masum | September 27, 2016

Hello Everybody,

Many of you know that for years I have worked as a trade finance banker. Since long, the law of international trade fascinates me a lot. I have spend years in reading different texts, trying to understand the complicated nature of international trade law. Some of the questions were answered while many are yet to be answered. But there is one simple question that no text talks about. The question is, "If 90% of the documents under LC is discrepant, then in 90% cases there is technically no undertaking from an issuing bank and yet the rate of failure under the LC is less than 1%. That means 99% of the Applicants and Beneficiaries don't care much about the rules and are shorting issues between themselves. Why on earth do we need so many rules then?"

... Read The Full Post

ICC Banking Commission; I am at your service

ICC Banking Commission; I am at your service

by Kim Sindberg | July 08, 2016

Yesterday it was announced that the ICC Banking Commission appoints two technical advisors:

Two quotes from the announcement:

"Nicole Keller and Balasubramani Ramaswamy Venugopal hand over the baton to Kim Sindberg and Glenn Ransier after three years service."

"ICC has also announced that Dave Meynell will remain Senior Technical Advisor and the return of Gary Collyer who will work with the Senior Technical Advisor to ensure a consistent style and approach across the body of opinions."

It is most lik... Read The Full Post

Recent Reviews

ICC Guide to the Uniform Rules for Bank Payment Obligations
ISBP Online
From Beginning to Beginning

Latest in Trade Library

UCP 600 Exclusions in Perspective
Use of Transport Document in International Trade
The Place of Receipt Case

Your Right To Vote

What Is Open Account Documents Instructions?
It is a combination of factoring and LC
It is a usance LC
Never heard of it

Poll initiated by shahriar

Best Trade Solution -