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4 new ICC Banking Commission Opinions November 2026

This week, the ICC Banking Commission met in London. During the meeting, four new Opinions (TA965 to TA968) were discussed and approved.

The new Opinions are:

TA965rev: Five Powers War Clause

The query deals with an LC with the following requirement:

“INSURANCE POLICY IN FULL SET ORIGINALS PLUS 1 COPY ISSUED OR ENDORSED TO THE ORDER OF XXXXXXXX FOR 110 PCT OF THE INVOICE AMOUNT COVERING ALL RISKS INDICATED IN INSTITUTE CARGO CLAUSES (A) PLUS: INSTITUTE WAR, STRIKE, RIOTS AND CIVIL COMMOTION CLAUSES IRRESPECTIVE OF PERCENTAGE INDICATING ‘CLAIMS PAYABLE IN TURKEY’ AND SHOWING CLAIM AGENT IN TURKEY.

THERE MUST BE NO EXCLUSIONS IN THE INSURANCE DOCUMENTS WITH RESPECT TO RISKS TO BE COVERED AS PER CREDIT”

The presented insurance policy evidences that war risks are covered and also includes the phrase "FIVE POWERS WAR CLAUSE."

The question raised is whether the combination of “THERE MUST BE NO EXCLUSIONS” and & >... Read The Full Post