The Commission on Banking Technique and Practice acts to prepare new uniform rules,  to update existing uniform rules for documentary credits, collections and bank-to-bank reimbursements and to adapt international banking practices to automatic data processing techniques. It works in conjunction with the International Commercial Practice Commission and with other international bodies on demand guarantees.

Click here to access the Banking Commission Fact Sheet 2011 

What to do in case of dispute 

The Banking Commission is a rule making body. It does not intervene in the event of dispute between parties. The extent of assistance the Banking Commission can provide is the interpretation of its’ rules. It does this through a process known as the Official Opinions of the Banking Commission. To learn more about this process, click here:  

Should disputing parties require further help than an Official Opinion, there are alternative solutions. However, it must be noted that ICC as a non-governmental organization has no authority to intervene in disputes between individual parties. Nevertheless, it does have dispute resolution procedures which can be used in certain limited circumstances, to help the parties solve their problems, namely:

1. Arbitration
   
   If all the parties to the dispute have agreed to have recourse to the services of the ICC International Court of Arbitration. This agreement normally takes the form of an arbitration agreement in the existing contract between the parties or in a subsequent agreement. The parties may also express their agreement by jointly filing submission agreement with the ICC Court's Secretariat. Information about ICC arbitration can be found on the Court web site:  http://www.iccwbo.org/court/
   
   
2. Documentary Instruments Dispute Resolution Expertise (DOCDEX)
   
   The DOCDEX procedure is available in connection with any dispute related to a documentary credit incorporating Uniform Customs and Practice for Documentary Credits (UCP) and the application of the UCP and/or Uniform Rules for Bank-to-Bank Reimbursement under Documentary Credits (URR) or the Uniform Rules for Demand Guarantees (URDG). For more information, visit:
   http://www.iccwbo.org/court/docdex/id4493/index.html 
   
   
3. Amicable Dispute Resolution
   
   ICC ADR can also be envisaged. The ADR procedure proposes the resolution of a dispute based on mutual goodwill and consent. For more information, visit: http://www.iccwbo.org/court/adr/