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6 new ICC Opinions have been published

The ICC Banking Commission have just published 6 new opinions that were approved at their meeting 21 July 2026.

Below is a short overview: 

TA959rev: Can the counter guarantee be terminated?

The query concerns a counter-guarantee subject to URDG 758. A demand was made but (correctly) rejected by the counter-guarantor.

Following the rejection, nothing happened and the guarantee and counter-guarantee reached the expiry date.

The question asked was if the counter-guarantor can cancel their counter-guarantee and close their records without any release notice or further reaction from the local guarantor.

The Opinion concludes (according to URDG 758 article 25), termination of a guarantee or counter-guarantee occurs automatically upon expiry, irrespective of whether a formal release has been provided.

TA960rev: Late payment due to sanctions investigation... Read The Full Post