ICC Digital Library Forum

Hello all,
we have a problem with the payment of an actual L/C and it seems that the negotiations about the payment were not successful. Now we are thinking about all instruments by law and probably about using instruments by the ICC (for example Decision) to get the problem solved. Who has experience about ICC regulations, when requesting a decision under an existing L/C and what other instruments from ICC could be used to solve payment problem under L/C? I would be very thankful for all your information.
GerhardH

Gerhard,

If by ‘Decision’ you mean the ‘Docdex’ process, I would simply observe that it is not binding unless the parties to the dispute agree to the contrary. Therefore, if you cannot persuade -in a legally binding manner- the other party to submit to the Docdex process and to accept the decision of the ‘expert’ panel there would seem little purpose, in my personal opinion, in considering it. However, I recognise that there are those who might consider that a favourable decision could possibly put ‘moral’ pressure on the other party.

For this reason, sometimes a party to a dispute will seek an ‘opinion’ from the ICC ‘Banking’ Commission (as it costs nothing, unlike Docdex) and -if it provides the answer they want- use it to try to put ‘moral’ pressure on the other party. Whether or not this ever succeeds I cannot say.

I would also mention that there are areas in which the ICC ‘Banking’ Commission (in whatever guise) cannot give -I believe- any views, such as fraud.

The only ‘unilaterally’ (i.e. does not necessarily require the co-operation of the other party to the dispute) enforceable mechanism of which I know is court action.

Regards, Jeremy