ICC Banking Commission Meeting 18 April 2023 – New ICC Opinion approved
The first day of the April ICC Global Banking Commission meeting was yesterday (18 April 2023). The main content of the meeting was the second Opinion session of the year. Prior to the meeting the slides with the suggested changes for the two opinions to be revised and finalized was circulated to the National Committees. Also discussed at the meeting (and covered by the circulated slides) was a discussion on technical issue briefs and rules updates. This both in respect of the updated ISBP but also the updates made to eUCP and eURC.
At the meeting, there was a long discussion about Draft ICC Opinion TA927rev (regarding free of charge goods). It was not possible to reach a unanimous conclusion. The TA adviser team will revert with the next steps of this draft opinion.
ICC Opinion TA930 was approved with some changes to Analysis and Conclusion.
At the meeting there also was an overview of the Technical Advisory Briefings. It was mentioned that there is still room for new members to the TA Briefings Team. There can be one from each ICC National Committee – and they need to be appointed by their ICC National Committee.
So far, the team have issued 6 Technical Advisory Briefings.
The 7th is at the draft stage and concerns “Title of Invoice”.
Ideas for new briefings are:
* Handling of “Certificates”
* Issuing Bank charges
* Wet-ink / electronic / .pdf signatures
It was mentioned at the meeting that it is possible to send requests for future Briefings.
At the end of the meeting the updates to eUCP, eURC and ISBP was addressed.
For eUCP and eURC the purpose of the updates is to alignment with MLETR with respect to electronic transferable records.
For ISBP 745 a working group have evaluated all ICC Opinions approved since the release of ISBP 745 and ensured full alignment between both sets of approved texts. In total 144 Opinions were reviewed, 13 of which had been withdrawn by the initiator. 9 Opinions were recognized as containing content that would be meaningful for addition within ISBP 745. More information about date of publishing and number to follow.
Subsequently the ICC National Committees will be contacted for guidance on the next steps in respect of the ISBP.
The next meeting to cover Opinions will be held virtually 11 July 2023.
Kind regards
Kim