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New Draft Opinions from the ICC

The ICC have circulated 5 new Draft Opinions (TA941-TA945, which will be discussed at the July 2024 Banking Commission meeting (to be held virtually).

470/TA941: Conditions as per survey report

The Query concerns a bill of lading that is refused on the basis of the following text on the bill of lading:

“Cargo Conditions As Per Survey Report issued by [name of survey company].”

470/TA942: Authenticated guarantee demand

The Query concerns a demand under a guarantee was issued subject to URDG 758.

The core question asked is if a authentic SWIFT message was required.

470/TA943: Documents sent on approval basis

The Query concerns a presentation of documents that were lost in transit between the advising bank and the issuing bank. The documents were not examined by the nominated bank, and a key question is what is actually meant when it is said that documents are sent “on approval basis”.

470/TA944: CP Bill of Lading consigned to the order of YYYY for and o/b of Beneficiary

The Query is a question about how a CP bill of lad >... Read The Full Post