The challenges facing bankers and other users of Documentary Credits during the current global economic downturn will be the theme of a one-and-a-half-day workshop hosted by ICC on 18-19 June in Paris.

Documentary Credits, also known as a letter of credit, is one of the most secure payment methods in international trade, offering advantages for both importers and exporters.

The workshop entitled “Applying the principles of UCP 600 in today’s turbulent environment” will bring together approximately 70 professionals from 25 countries who will learn, through a series of study-led sessions, how following the UCP rules when structuring their trade transactions can help facilitate the Documentary Credit process and avoid pitfalls.

All the issues will be presented and discussed by leading experts including Gary Collyer, Technical Advisor to the ICC Commission on Banking, and Vincent O’Brien a long-standing member of the ICC Banking Commission and a member of ICC's Guarantees Task Force. They will lead sessions on issuance, confirmation, amendments, transferable credits, ISBP, document preparation and examinations as well as refusals under documentary credits.

They will also conduct a special session on the first day of the workshop to present the findings of “Rethinking Trade Finance 2009: An ICC Survey” allowing attendees to voice their concerns about the current challenges facing trade as a result of the financial crisis.

The ICC International Court of Arbitration, which itself has seen an increase in disputes involving Documentary Credits, will also host a special breakfast talk on the second day on how to “Master Arbitration in Banking Matters”.