Perhaps reflecting that there is a greater understanding of ICC rules and practice within the market, only five queries have been identified for discussion at the next ICC Banking Commission meeting in Miami, April 2018.
One of these will be TA879rev, which had been held over from the London meeting. This covers the subject of ‘proof of honour/negotiation' and ‘payment of interest'.
The only change that has been made from the original draft is by replacing the word ‘honour' with ‘reimbursement' in the conclusion. For information purposes, apart from this minor change, of the 31 National Committees that previously responded, 29 agreed with the conclusion and one partially agreed.
The four remaining queries are as follows:
TA880 - Court Injunction
TA881 - Mixed Payment
TA882 - Third Party Documents Not Acceptable
TA883 - Air Waybill Discrepancies
Once the ICC Banking Commission has approved formal responses, we will provide an appropriate update.