While browsing through the wide world of the internet web, I chanced upon several documents released by SWIFT over the last couple of years. One of the documents that I was happy to locate, and read from the first page to the last, was called “SWIFT Standards - Category 7 - Documentary Credits and Guarantees … Continue reading Making SWIFT changes
Rupnarayan Bose Introduction I am sure one can easily recall the following lines from the popular musical The Sound of Music: “How do you solve a problem like Maria? How do you catch a cloud and pin it down?” Replace ‘Maria’ with issues like negotiation, pre-payment, drafts, shipment date – you name it – and … Continue reading Availability and expiry under Article 6, UCP 600
Rupnarayan Bose The ICC Banking Commission’s Opinion to query [TA717rev2] was published in the January-March 2011 issue of the DC Insight. The Banking Commission in its ‘Analysis and conclusion’ stated that, “…A number of these do not reflect good banking practice ….It would not, therefore, be appropriate for ICC to offer any opinion as to … Continue reading A CRITICAL ANALYSIS OF ICC TA 717 rev2.
IntroductionOn 15 June 2017 ICC (Paris) released a document, numbered 470/1272, titled Decision of the ICC in respect of a revision of UCP 600 following a comprehensive consultation. The ICC Executive Committee essentially said: “In line with the majority recommendation of National Committees, it is not considered, at this stage, to be appropriate to undertake … Continue reading MY WISH LIST FOR THE NEXT UCP
While going about one’s day to day business, one often stumbles upon the truth. But one then picks oneself up, pretends that nothing has happened, and moves on. For some, ignorance is bliss, and knowledge is not for sharing. If to no one else, these laments of mine could surely apply to some of the … Continue reading If you have heard about the ISBP, raise your hand