ICC Opinions and more ICC Opinions
10 August the ICC Banking Commission circulated the new consolidated Draft Opinions for discussion during the October 2021 Banking Commission meeting. Just like the previous, this meeting will be held virtually.
The ICC National Committees are asked to provide their comments by 21 September 2021.
The 6 new Draft Opinions to be discussed at the meeting are:
TA915: Administrative conditions
TA916: No refusal No payment
TA917: DA basis under an avalised draft
TA918: No payment by the issuing bank
TA919: DA basis under an avalised draft
TA920: Sanctions Clauses
Already now reviews of the queries are available in lcviews premium. Reviews of the analysis and conclusion will be added once the Opinions are final.
It should also be mentioned that the ICC has announced that going forward, Opinions will be handled on a quarterly basis. The first meeting of 2022 will be on 26 January 2022 and will be handled via video conferencing. So now 4 Opinions meetings per year.
So twice as much time to take good care of the LC. I am looking forward.
Kind regards
Kim