The ICC Banking Commission has issued new electronic rules (eRules) to advance the digitalisation of trade finance practices.
The International Chamber of Commerce (ICC) Banking Commission has released its 2018 Trade Register report – again highlighting the low risk nature of trade finance in comparison to other asset classes.
ICC Banking Commission and Clyde & Co launch report on the legal status of electronic bills of lading
The report considers whether the law in this area reflects the technological change that is rapidly occurring in the international trade sector. The ICC Banking Commission and global law firm Clyde & Co have launched a report on the legal status of electronic bills of lading. The report considers whether the law in this area reflects the [...]
The ICC Banking Commission’s Annual Meeting kicks off this week in Miami at a time of historic uncertainty for the international rules-based trading system.
It is estimated that hundreds of billions of US dollars pass through trade-based money laundering (TBML) schemes each year.
It’s once again that special season, where banks from around the world voice their experience and expertise in the ICC Banking Commission flagship trade finance survey. Paris, 6 December 2017 The upcoming report, to be released in April 2018, will be the 10th edition of ICC’s global survey, which informs trade finance practitioners of [...]
For the first time in over 30 years, ICC Banking Commission’s 2017 Technical Meeting was held in London, gathering international experts and close to 250 delegates to discuss key issues affecting the trade finance industry. London, 8 November 2017 Discussions revealed wide consensus that geopolitical and economic forces influencing trade are greater than they [...]
Registration is now open for the ICC Banking Commission’s flagship Annual Meeting in Miami, bringing together experts and leading figures from the trade finance industry to discuss the latest trends, challenges and prospects. Miami, 24 October 2017 As one of the most important events on the 2018 banking calendar, the Banking Commission’s Annual Meeting [...]
In a historic moment, the ICC Uniform Rules for Forfaiting—ICC Publication no. 800 (“URF 800”)—were officially endorsed by the United Nations Commission on International Trade Law (UNCITRAL) in its 50th plenary session held in Vienna on 14 July 2017. Vienna, 22 August 2017 Forfaiting is a trade financing technique based on without recourse discounting [...]
The International Chamber of Commerce (ICC) Banking Commission has released its 2017 report entitled Rethinking Trade and Finance. Based on the Global Survey on Trade Finance – with 255 responses from banks located in 98 countries, as well as insight and commentary from expert contributors – the report is the most comprehensive gauge of [...]
The International Chamber of Commerce (ICC) has welcomed official recognition of the estimated US$1.6 trillion trade financing gap in the United Nations’ (UN) annual Financing for Development (FfD) review. New York, 24 May 2017 In an intergovernmental text issued today, the UN underscores the importance of ensuring adequate and cost-effective trade financing for small [...]
Short-term financing is an essential tool to support the small business growth and sustainability, yet a growing trade finance shortfall hurts companies and countries that need it the most. Paris, 22 May 2017 World trade relies heavily on reliable sources of financing—both long-term (for capital investments) and short-term. The latter—commonly referred to as “trade finance”—is [...]