ICC Law Amend­ments for Trans­parency and Adept­ness

FICCI Business Digest - - States -

The amend­ments in the In­ter­na­tional Cham­ber of Com­merce (ICC) Reg­u­la­tions will pro­vide more trans­parency and adept­ness to the in­ter­na­tional com­mer­cial trans­ac­tions,' re­marked Ka­mal P Pat­naik, Gen­eral Man­ager, Re­serve Bank of In­dia, Kochi, while in­au­gu­rat­ing a sem­i­nar on 'Trade Fi­nance – An Update on ICC Rules – Op­er­a­tional Is­sues & ICC Bank­ing Com­mis­sion De­ci­sions, ICC's Dis­pute Res­o­lu­tion Ser­vices, jointly or­ga­nized by ICC and FICCI in as­so­ci­a­tion with State Bank of In­dia in Kochi on 15 May 2018.

'The ser­vice of­fered by the ICC is im­por­tant in con­trol­ling the mis­con­duct of in­ter­na­tional busi­ness. The ICC has been de­vel­op­ing a vi­tal role in pre­vent­ing coun­ter­feit prod­ucts and fraud and is spread­ing through­out the in­ter­na­tional busi­ness, in­clud­ing in­ter­net gov­er­nance, data pro­tec­tion, pri­vacy, se­cu­rity, in­ter­net co­or­di­na­tion, en­trepreneur­ship, re­search, le­gal dis­pute, and dis­pute,' he added.

Cor­po­rate Ad­viser and prom­i­nent ex­pert in In­ter­na­tional Trade and Fi­nance, K Parameswaran, led the ses­sions in the sem­i­nar se­ries. The sem­i­nar se­ries dealt with is­sues like doc­u­men­tary credit, UCP 600 Rules, ISBP 745, bank guar­an­tees, Amended Sec 28 of In­dian Con­tract Act, ICC Dis­pute Res­o­lu­tion Ser­vices, SWIFT 700, MT 798 and MT 710 For­mats. The pro­gramme also of­fered valu­able op­por­tu­nity to the par­tic­i­pants to share their ex­pe­ri­ences and con­cerns and seek clar­i­fi­ca­tions from the sub­ject ex­pert.

Ka­mal P Pat­naik, Gen­eral Man­ager, Re­serve Bank of In­dia, Kochi, ad­dress­ing the sem­i­nar.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.