ICC Russia Banking Commission

ICC Russia Banking Commission was established in 2000 to bring together the largest Russian banks that actively finance foreign economic activities of Russian enterprises.

The work of the ICC Russia Banking Commission is based on its main objectives, namely:

• Formulation of the consolidated standpoint of Russian experts on issues relating to international trade finance and its submission to the global ICC Banking Commission and Russian authorities

• Supporting and assisting development and wider use of modern trade finance tools and digital technologies in Russia, as well as promoting international expertise in the area of trade finance tools and guarantee business on the Russian market

• Providing permanent participation of Russian banks in the work of the global ICC Commission, including development, updating and commenting on uniform rules, opinions, guidelines and other ICC documents

ICC Russia Banking Commission works in the following areas: 

Independent guarantees

• Developing standards and commentaries with respect to uniform guarantee form (under federal laws № 44-FZ, № 223-FZ), in conjunction with the Federal Customs Service and the Ministry of Finance of the Russian Federation

• Formulation of the consolidated standpoint of the Russian experts and its integration in the international agenda

• Holding conferences, round tables and training seminars

• Translation and distribution of ICC publications 

Documentary credits

• Development of standards and commentaries 

• Holding conferences, master classes, training seminars

• Translation and distribution of ICC publications 

BPO (Bank Payment Obligations)

• Elaboration of recommended forms, guidelines and developments in the legal framework of the Russian Federation, in conjunction with the Association of Russian Banks (ARB) and the Bank of Russia

• Holding business events

• Translation and distribution of ICC publications