DOCDEX was established by the International Chamber of Commerce in 1997 as a rapid dispute resolution system using panels of ICC experts to render decisions on disputes involving letters of credit. DOCDEX Decisions, normally rendered within 30‒60 days, often allow the disputing parties to avoid lengthy and costly court proceedings. The DOCDEX system was later expanded to cover ICC rules on collections and demand guarantees as well.
Edited by Gary Collyer and Ron Katz, the Decisions in this volume, which cover the years from 2005‒2008, were issued during the final years of UCP 500, ICC’s universally used rules on documentary credits. In these pages, the readers will also find Decisions on UCP 600, the latest revision of the letter of credit rules, International Standard Banking Practice (ISBP 645 and 681) URC 522 (the ICC Uniform Rules for Collections) and URDG 458 (the Uniform Rules for Demand Guarantees).
The Decisions in this book cover a broad range of issues:
- typing errors and whether they constitute a discrepancy;
- amendments in standby credits;
- the application of paragraphs in the ISBP;
- the expiry date on a transferred letter of credit
- and more
"In the 11 years since the rules came into effect, DOCDEX has proved its value as an efficient and cost-effective dispute resolution system, which allows the parties to have their case considered by experts having long experience with ICC rules and to receive a Decision within a reasonable period of 30–60 days. Practitioners involved in disputes concerning these ICC rules would do well to look to DOCDEX as a practical means of settling them." from the Foreword by Gary Collyer, Technical Adviser to the ICC Commission on Banking Technique and Practice.