CONSOLIDATED GUIDANCE ON SANCTIONS CLAUSES IN TRADE FINANCE-RELATED INSTRUMENTS

The International Chamber of Commerce has published this consolidated guidance for use with trade finance-related instruments that are subject to the rules drafted by the ICC Banking Commission (“ICC rules”).  The purpose of this consolidated Guidance Paper is to highlight certain issues arising from the use of such clauses and recommend best practices in that respect.

https://iccwbo.org/publication/consolidated-icc-guidance-on-the-use-of-sanctions-clauses-in-trade-finance-related-instruments-subject-to-icc-rules

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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