Blog

The meeting was held online with sessions on 30 & 31 March 2021.

30 March 2021: Official ICC Opinion session
Hosted by:

Tomasch Kubiak

Presented by:

Technical Advisors: Glenn Ransier / Kim Sindberg

Senior Technical Advisor: David Meynell

Editor: Gary Collyer

This was the subject of our separate blog published on 13 April 2021.

31 March 2021: Plenary Meeting

The meeting was opened by Daniel Schmand, outgoing Chair ICC Banking Commission and Global Head of Trade Finance, Deutsche Bank, and followed by an update from Andrew Wilson, Global Policy Director and Permanent Observer to the United Nations, ICC.

The next session, presented by David Meynell and Geoff Wynne (Sullivan & Worcester LLP), provided an update on ICC Digital Rules & Practices. This will be the subject of a separate blog, although the main highlights are listed below:

• eUCP Version 2.0 impacts upon many areas including Operations, Technology, Legal & Risk Management
• An enhanced Users Guide to the eUCP is available, downloadable free of charge, from the ICC website @2go.iccwbo.org
• An explanation was providing detailing the process behind Digital Trade Transactions within the forthcoming URDTT
• It is envisaged that the next draft of the URDTT will be the final one
• A new ‘Commercialisation' workstream has been established in order to promote usage of ICC Digital Rules and Practices

This fed neatly into the next session by Oswald Kuyler, Managing Director, ICC Digital Standards Initiative, who provided an overview of DSI activities.

The next couple of hours concentrated on updates from various ICC Banking Commission task forces and working groups including Institutional Investors in Trade Finance, Working Group on Digitalisation in Trade Finance, Global Supply Chain Finance Forum, Market Intelligence, Working Group on Sustainable Trade Finance, ICC Trade Register, Working Group on Regulatory Advocacy, and the Legal Committee. 

The final session concentrated on a presentation and vote for the new International Standard Demand Guarantee Practice. This was approved and will be the subject of a separate blog.

The date and venue (virtual/physical?) for the next meeting is to be decided. 

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