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The Following Blog Post Was Made On: 2018-03-21
Miami... and counting
The ICC Banking Commission Annual Meeting will take place at the Hotel Intercontinental Miami, Florida 3-6 April 2018. As always the agenda is rich and wide in topics.
The agenda can be found via this link:
Here are some headlines:
* The Outlook for Global Trade Finance
* Reflections on the ICC Global Survey
* ICC Banking Commission: Ambitions in a World of Disruption
* The New Digital Economy and Trade Finance
* An update from Swift
* Getting Ahead of the Game: Combatting Illicit Trade, Fraud and Money Laundering
* Financial technology: The new kids on the block
* Blockchain and Distributed Ledgers: What’s Next in the Revolution?
* The Non-Vessel Owning Common Carriers (NVOCC) project
* Basel III: The Beginning of the End
* Findings from the Global URDG-survey
* Digitalisation of Trade Finance Working Group: BPO
* Draft Official Opinions of the Banking Commission
* Sustainability and Traceability in Trade
As has become the norm, the agenda run in streams; so one will have to make some tough choices. As is clear from the above list, the agenda captures well what is going on. An observation is that “Blockchain” is part of three agenda items, whereas regulatory compliance is “only” covered in one. Blockchain is for sure interesting, and its potential cannot be denied. However, it still remains to be seen if it will make a real impact. Regulatory compliance – on the other hand – has surely made huge impact on the Trade Finance industry; and continues to do so. If fact regulatory compliance is one of the biggest challenges – and obstacles for the Trade Finance area at this point in time. Therefore logically the ICC Banking Commission should address this issue in a stronger way.
And of course the new Draft opinions also have a slot on the Agenda. This time the following will be discussed – and agreed upon:
TA879 – Interest claim for late payment (Held over from previous meeting)
TA880 – Court injunction against the issuing bank
TA881 – Mixed payment
TA882 – Third party Documents not acceptable
TA883 – AWB showing inconsistent carrier’s name, AWB showing inconsistent contract number, Refusal after correction of documents
As always, looking much forward to taking part in the discussion.
Already now the reviews of the queries (not the draft answers) are in lcviews premium. Once the final versions of the ICC Opinions are available, the lcviews premium pages will be duly updated and reviews of the Opinions will be available.
For more information about lcviews premium: http://lcviews.com/index.php?page_id=194
So all in all the participants – and presenters – and look forward to some exiting days under the safe umbrella of Trade Finance.
My only hope is that all the people there will take care of each other and the LC.