Trends and Challenges Facing the Banking Sector:

  • The banking sector requires standardization of international banking and commercial practice procedures to obtain increased efficiency and to ensure that parties to transactions are operating under the same assumptions to increase the likelihood of payment.
  • The banking sector needs decreased costs to international trade transactions.
  • Business needs a global set of forfeiting rules for both primary and secondary markets.

USCIB’s Response:

  • Promote standardization of international banking and commercial practices, which helps policymakers and standard-setters put programs and regulations in place that enhance business practices around the world.
  • USCIB, through the ICC Banking Commission, aims to overhaul the rules in different fields, such as international standard banking practice and forfeiting, as well as in traditional trade services, open account and supply chain financing, global regulation, legal and compliance issues and risk and asset management.
  • Ensure members have greater clarity and understanding of current practices by promoting the adoption and integration of the ICC’s Uniform Rules for Demand Guarantees (URDG), as well as the Uniform Customs and Practice for Documentary Credits (UCP 600).
  • Facilitates the rapid settlement of disputes arising in banking by working through ICC to administer the ICC Rules for Documentary Instruments Dispute Resolution Expertise.
  • Responds to member inquiries regarding suspected cases of attempted financial fraud using falsified or illegitimate financial instruments or banking practices.

Magnifying Your Voice with USCIB:

  • USCIB is the only U.S. business association formally affiliated with the world’s three largest business organizations where we work with business leaders across the globe to extend our reach to influence policymakers in key international markets to American business
  • Build consensus with like-minded industry peers and participate in off-the-record briefings with policymakers both home and abroad.

Positions and Statements

USCIB Gives Feedback on OECD New Approach to Economic Challenges Project (1/22/2015) - Authors of the Organization for Economic Cooperation and Development’s “New Approach to Economic Challenges” report met with USCIB and member…
Global Trade Set to Benefit From ICC Trade Register Report (6/19/2014) - It has long been anecdotally known that trade finance is a low risk for lenders. That claim now has a…

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News Stories

USCIB Leads in Preparations for Upcoming China Meetings at OECD (4/27/2021) - USCIB members and staff played major roles in the April 23 China Expert Group’s preliminary meeting to preview and discuss…
USCIB Banking Committee Welcomes New Chair: Bank of America’s Geoff Brady (11/11/2020) - USCIB is pleased to announce the appointment of USCIB member Geoff Brady of Bank of America as new chair of…

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Press Releases

Now Available in USCIB International Bookstore: Uniform Rules for Bank Payment Obligations (6/13/2013) - New York, N.Y., June 13, 2013 – Uniform Rules for Bank Payment Obligations (BPOs), a 21st-century standard in supply-chain finance…
New Report Proves Trade Finance Is Low-Risk, Asks Regulators and G20 to Unlock Trade (10/26/2011) - Beijing and New York, N.Y., October 26, 2011 –The rules set by bank regulators impose unwarranted capital requirements that choke…

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Op-Eds and Speeches

SMEs Face Significant Financing Gap (7/22/2013) - Speaking at the World Trade Organization’s annual “aid-for-trade” review earlier this month, a representative of the International Chamber of Commerce (ICC)…
The Future of Trade Finance: Outlook 2011 (5/23/2011) - As 2009 ended, we viewed the global economy – and its lifeblood, trade – through the prism of cautious optimism.…

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Geoff Brady
Head of Global Trade and Supply Chain Finance
Bank of America


Christopher Olsen
Policy Manager, Regulation and Trade
202-617-3156 or



Staff Contact:   Alice Slayton Clark

VP, International Investment and Trade Policy
Tel: 202.682.0051

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