ICC has taken the lead to keep trade moving during the Covid-19 pandemic by publishing the eUCP and eURC eRules guidelines for faster and efficient trade transactions.
With the Covid-19 pandemic, our paper-based trade finance settlement system suddenly stopped working. It is about time businesses adopt paperless and digital workflow to safeguard trade finance operations.
The ICC Uniform Rules for Collections (URC522) Supplement for Electronic Presentation (eURC). On 1 July 2019, the revised internet eRules and guidelines for online trade finance documentary collections came into effect for banks, importers, exporters, and freight forwarders to prepare and present electronic records for documentary collections in lieu of or in conjunction with paper documents.