Documentary Credit World October, 2019

Feature - ICC Banking Commission Technical Meeting

Highlighted early in the Banking Commission’s 9 October Paris Meeting was ICC’s reorganization into Knowledge Hubs with particular emphasis placed on the work of the “Finance for Development” Knowledge Hub. Progress reports on the efforts of 12 task forces, working groups, and committees of the ICC Banking Commission were given as well as a status update of the drafting of Uniform Rules for Digital Trade. As usual, discussion of ICC Draft Opinions anchored the afternoon sessions. Opinion TA895 dealing with a poorly drafted credit and the cited discrepancy “LC amount overdrawn” attracted considerable attention.

Following DCW’s summary report of the Meeting, Don Smith and Pavel Andrle in separate articles offer their respective thoughts on the ICC Opinion process and lessons learned from the Opinion TA895.


  • Judge Orders USDA to Clarify Agency Record in ‘Rented Trade Flows’ Case
  • ICC Extends URDT Comment Period
  • Dubai 2020 ICC Banking Commission Annual Meeting Agenda Released
  • Bangladesh Company Petitions Central Bank in Cross-Border Fraud Complaint
  • International Updates


Letters of Credit and Applicant Bankruptcy” by Michael Evan AVIDON, Mark N. PARRY, and Kirk HAYNES

"From Draft to Final: the ICC Banking Commission Opinion Process and the TA895 Experience" by Don SMITH

"Opining on the ICC Opinions - Lessons Learned from TA895" by Pavel Andrle

Scam Survey

Michigan Men Sentenced for Advanced Fee Scam

Californian Sentenced to Prison for LC Fraud

2nd Quarter 2019 - US Branches of Non-US Banks. Where does your bank rank? See the full statistics in the October issue of DCW.

Litigation Digest

Magic Holding Group Ltd. v. Bank of Communications Co., Ltd. Shanghai High People’s Court

Topics: Advising Bank; Amendment; Authenticity of Advice; SWIFT; UCP600 Article 9 (Advising of Credits and Amendments)