Providing official interpretations of how ICC rules are to be used in specific situations, ICC Banking Commission Opinions reflect how ICC’s universally used rules of letters of credit, bank-to-bank reimbursements, documentary collections and demand guarantees are applied in everyday practice.
ICC’s URBPO are the first-ever Uniform Rules for Bank Payment Obligations (BPOs), a 21st century standard in supply chain finance that governs Bank Payment Obligations transactions worldwide.
The first ever Uniform Rules on Forfaiting, URF800 is a standard set of rules reflecting a broad consensus among bankers, users and all members of the forfaiting community worldwide.
Reflecting international standard practice in the use of demand guarantees the ICC Uniform Rules for Demand Guarantees (URDG)have gained international acceptance and official recognition by bankers, traders, industry associations and international organizations including UNCITRAL, FIDIC and the World Bank.
Used by letter of credit practitioners worldwide, the Uniform Customs and Practice for Documentary Credits (UCP) are the most successful private rules for trade ever developed. The UCP rules are used by bankers, traders, lawyers, transporters, academics and others who deal with letter of credit transactions in more than 175 countries.