The Banking Commission of the International Chamber of Commerce (ICC), The Wolfsberg Group, and the Bankers Association for Finance and Trade (BAFT), on 24 January jointly announced the publication of its Trade Finance Principles. The guidance document updates the 2011 edition.
The document was updated to reflect the growing regulatory expectations, as well as the more stringent application of existing regulations faced by the industry today. According to the ICC, the collaborative effort will help standardise the practice of financial crimes compliance for trade transactions.
If you are interested in a copy, simply send us an email with ‘Trade Finance Principles’ in the subject line.