The FINANCIAL — The Banking Commission of the International Chamber of Commerce (ICC) has announced the appointment of two new technical advisors for the production of official Banking Commission Opinions – important resources for legal and banking professionals as well as scholars that are often cited by courts to assist in dispute resolution.
Nicole Keller and Balasubramani Ramaswamy Venugopal hand over the baton to Kim Sindberg and Glenn Ransier after three years service, according to ICC.
Mr Sindberg, founder of Sindberg Consult and Executive Adviser at Nordea, is an internationally recognized trade finance expert – with a background from the transport industry. He is a member of several national and international trade finance forums and stands behind a number of trade finance publications and websites.
Mr Ransier, global standby and demand guarantee product manager at Wells Fargo, has worked in the field of trade finance for more than 35 years. Among other merits, he was a member of the Drafting Group which revised the Uniform Rules for Demand Guarantees (URDG) revision 758 and remains a member of the Guarantee Task Force, a delegate on the ISO (International Organization for Standardization ) 20022 team which developed industry standards for trade finance messages and he chaired the International Financial Services Association (IFSA’s renamed BAFT Bankers Association for Finance and Trade) Commercial Letter of Credit Committee from 2005 to 2007.
Forfaiting Rules and Rules for BPO
“On behalf of ICC, I would like to thank outgoing technical advisors Nicole Keller and R.V. Balasubramani for their exceptional contributions over the past three years and to warmly welcome Kim and Glenn. With the newly created Forfaiting Rules and Rules for BPO, the ICC Banking Commission has considerably developed its rule-making activities in recent years. We are therefore pleased to announce our new team of technical advisors who bring their expertise in the field of trade finance and these newly-established standards,” said Banking Commission Senior Policy Manager Emily O’Connor.
ICC has also announced that Dave Meynell will remain Senior Technical Advisor and the return of Gary Collyer who will work with the Senior Technical Advisor to ensure a consistent style and approach across the body of opinions.
A helping hand from ICC experts
When facing the numerous and often complex problems in establishing documentary compliance and the interpretation of rules and document content, banking professionals regularly turn to ICC for guidance. Today, the ICC Banking Commission, supported by its technical advisors, provides official opinions on the interpretation of the long-established Uniform Customs and Practice for Documentary Credits (UCP), Uniform Rules for Collections (URC), Uniform Rules for Demand Guarantees (URDG) and Uniform Rules for Bank-to-Bank Reimbursements (URR). In addition, the newly created Uniform Rules for Forfaiting (URF) and Uniform Rules for Bank Payment Obligation (URBPO) are also the subject of official opinions.
The introduction of the new technical advisors will help the commission continue its tradition of standing as a relevant and recognized authority within the ever-evolving trade finance industry.