On the topic of Documentary Credit Practices; A summary of important questions to be addressed.

1. O C T O B E R 2 0 1 9
I C C B A N K I N G C O M M I S S I O N
P A R I S
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Documentary Credit Practices:
Controversy & Guidance
C H A I R : D A V I D M E Y N E L L
P A N E L : D A V I D M O R R I S H / V I N C E N T O ’ B R I E N / J O H N T U R N B U L L

2. AGENDA
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• Dave Meynell, Senior Technical Advisor ICC Banking
Commission and Owner TradeLC Advisory
• David Morrish, Relationship Director The London Institute of
Banking & Finance
• Vincent O’Brien, Member ICC Banking Commission Executive
Committee
• John Turnbull, Chair ICC UK Banking Committee and Executive
Advisor - ABC International Bank PLC
• Issues to be addressed:
• Follow-up to Beijing: Documentary Credit formats?
• What more can the ICC & NC’s do collectively to educate and
guide practitioners?
• Which technical issues should the ICC be addressing?

3. Documentary Credit formats?
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Beijing feedback on proposal for ‘lite’ version of UCP 600:
• Rather than an ‘additional’ UCP, there is value in ICC producing
guidance for a ‘lite’ documentary credit in form of a 2-page
proposal including specific terms for such credits.
Discussion points:
• Is this really an ICC problem?
• Should individual banks not resolve it?
• Would it help if the ICC produced a Guidance Paper?
• Any value in updating the ICC ‘Standard Documentary Credit
Forms’ brochure? (Note: not updated since UCP 500)
• Forget paper - focus on digital solutions?
• Other options?

4. What more can the ICC & NC’s do collectively to educate
and guide practitioners?
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Discussion points:
• Workshops / seminars / podcasts, etc.?
• Enhanced attention on ISBP 745?
• Re-address the overall marketing approach?
• More technical sessions at ICC meetings?
• Guidance Papers?
• Technical Advisor Briefings?
• Low-cost and accessible online training?
• Review of distribution channels?
• Access to ICC Opinions for all practitioners, not just those who
can afford to pay the existing high cost?
• Pricing of ICC publications?
• Other options?

5. Which technical issues should the ICC Banking
Commission be addressing?
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Open forum for panellists

6. Questions?
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