ICA-CARRIAGE-OF-GOODS

ICC transport and banking rules.

Definition

ICC publishes URC 522 (Uniform Rules for Collections), URDG 758 (Demand Guarantees), URBPO 750 (Bank Payment Obligations), eURC v1.0 (electronic collections). These rules apply by contractual agreement between parties and complement Incoterms 2020 on the financial-customs aspect.

Origin

ICC founded 1919 ; URC 522 published 1995 ; eURC published 2019.

Example in context

A French bank applies URDG 758 to issue a bank guarantee in favour of a Saudi buyer in an oil contract.

Related terms

• Incoterms 2020 — commercial twin.