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This document collates common practices undertaken by global banks in the COVID-19 emergency situation and shares some guidance. This is not a “best practices” document and many of the practices described are being improved already. Rather it is a practical reference document with information about measures put in place to continue the flow of trade and trade finance when paper transfer has become difficult or impossible. The COVID-19 pandemic has disrupted shipping, in-person interactions, and travel. As such, alternative procedures are required to settle trade finance transactions. Data is sourced from 2020 data from ICC, ITFA and BAFT members
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The compared version, which is made available for convenience, highlights the amendments to the 2017 Arbitration Rules. Arbitration under the ICC Arbitration Rules is a formal procedure leading to a binding...
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The ICC Arbitration Rules are those of 2012, as amended in 2017 and 2021. They are effective as of 1 January 2021. The ICC Mediation Rules, in force as from...
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Around 80% of world trade relies on trade finance—a market that has proven particularly vulnerable to previous financial shocks. Reduced access to reliable, adequate, and cost-effective sources of trade financing...
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