ICC-decision doc 470/822 regarding impact of the EURO

SimonJacques · Post by **SimonJacques** » Wed Apr 25, 2001 1:00 am

We received a message from a Bank to whom we have issued a L/C in Euro asking us to precise if it is subject to the above mentionned document.
Can someone give us info on this document please?

PGauntlett · Post by **PGauntlett** » Wed Apr 25, 2001 1:00 am

If you give me your fax no I'll send it to you

SimonJacques · Post by **SimonJacques** » Wed Apr 25, 2001 1:00 am

My fax is 514-394-4182,Thanks

LeoCullen · Post by **LeoCullen** » Wed Apr 25, 2001 1:00 am

ICC Decision document on impact of the euro is available in the "ICC Policy Statements" section of DC-PRO Focus. (text link to the right of the screen)

larryBacon · Post by **larryBacon** » Thu Apr 26, 2001 1:00 am

The ICC Decision document is not optional. It applies to all letters of credit opened as and from 1.1.1999 without the need to specifically refer to this Decision.

laurence_aj@hotmail.com

T.O.Lee · Post by **T.O.Lee** » Tue May 22, 2001 1:00 am

I have noted that the enquirer is from Canada. Hello, I am from Toronto. If you happen to be in Toronto we may meet personally to help you. By the way I am a member of the Canadian Working Party on ICC Commission on Banking Technique and Practice.

I wish to add that even if a German Marks LC does not state on its face that it is also subject to the ICC Euro Decision Paper, such Decision Paper will be applied anyway in the examination of the documents. A draft drawing on Euro equivalent for a German Marks LC will not be deemed as a discrepancy.

I wish to thank my good friend Mr. Heinz Hertl of Bank Austria/Creditanstalt, Vienna so that I am able to modify my previous inappropriate statement here. The ICC Euro Decision affects only those currencies from EU countries and not other non-EU currencies like USD or CAD.

I am from www.tolee.com

[edited 5/25/01 5:52:34 PM]