New Draft Opinion from the ICC – and two more to come
The week the ICC circulated one Draft Opinion (TA949rev) which were to be discussed at the July 2025 Banking Commission meeting (to be held virtually).
However, yesterday the ICC announced that they will move the meeting to 5 August.
According to the ICC, this is due to the fact that an ICC National committee provided two requests for opinions within the defined deadline which were not shared with the technical advisor’s team for their review and drafting of opinions.
Hence, two more Draft opinions can be expected meaning that a total of three Draft Opinions will be discussed at the August meeting.
For the Draft Opinion that has been circulated, you may recall the TA number - and note the “rev” following the number.
And if so, you do you are correct:
It is the revised / updated Opinion on “Copy of Surrendered B/L”.
You can read the story here
Since that blog post, the Technical Advisers have requested feed-back from 3 key players in the issuance of bills of lading.
Based on that feed-back - and of course considering the original comments from the ICC National Committees a new version of the Opinion will be presented for comments - and hopefully approval.
470/TA949rev: Copy of Surrendered BL required
The query concerns an LC which calls for “ONE COPY OF SURRENDERED B/L”.
The main questions asked to the ICC is, in this case, if an original may be presented (or only a copy must be presented) and how it is to be reflected on the presented bill of lading that it is “surrendered”?
We will keep you posted once the two additional Draft Opinions are circulated.
Kind regards
Kim