Status of ICC Opinions TA814rev2 and TA820rev2 Still Pending

Based on feedback received by ICC that the wording of final opinions TA.814rev and TA.820rev did not reflect the wording agreed to at the April 2015 Singapore ICC Banking Commission meeting, the ICC withdrew both Opinions in June and released revised versions of both for comment by ICC National Committees. The comment period closed on 18 September. It is likely the Technical Advisors will need more time to consider these comments and it is not yet known when updated versions of these opinions will be released.

TA.814 deals with whether use of the symbol “$” in an invoice signifies U.S. dollars and whether refusal of a marine B/L that was consigned to the applicant rather than to its order and contained no endorsement is valid where the credit required that it be “negotiable” and “blank endorsed”.

TA.820 deals with whether a presentation made after advice of an amendment that complies with the unamended credit can constitute a rejection of the proposed amendment when there are no other references to the amendment.

For more news about ICC Opinions, view this previous post.


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