Incorporation of Sanction Clause in Letters of Credit (URGENT)

[moneo]

IS IT NECESSARY TO INCORPORATE ALL LCS AT THE TIME OF ISSUANCE WITH SANCTION CLAUSE TO PROTECT PARTIES FROM BEING INVOLVE OF ANY SANCTION ACTIVITY.
IF THE BENEFICIARY REQUEST TO DELETE SUCH CONDITION, DID ANY OF ICC PUBLICATION STATE ANYTHING RELATED TO
GIVE RIGHT TO ISSUING BANK TO REJECT DOCUMENT/PAYMENT HAS FALL UNDER SANCTION

[picant]

Hi Pal,

ICC Documents -Guidance paper on the use of sanctions clauses in trade finance-related instruments
subject to ICC rules- Document No 470/1238 is free downable from ICC official website.
Where a statement that the issuing bank adhere to Sanctions Programm issue by Ofac, EU, NU etc
Issuing bank's policies have to be rejected as too much discretional.
Due to this particular issue, bank's behaviour may vary case by case.
Other comments appreciated
Ciao