1. The ICC Banking Commission new guidance paper
On June 13th 2014 the International Chamber of Commerce issued an updated version of the ICC Guidance Paper on The Use of Sanctions Clauses in Trade Finance-Related Instruments subject to ICC Rules.
The paper details the impact the use of sanctions clauses in trade finance related instruments. In addition, it provides examples of such clauses and provides recommendations for best practice.
To view the Guidance Paper please click the following link: http://www.collyerconsulting.com/library/files/Guidance%20Paper%20-%20Use%20Of%20Sanctions%20Clauses.pdf
2. VAT Expert Group issues new suggestions for EU taxation policy
The VAT Expert Group of the European Union has recently published its opinion paper on the definitive VAT regime for the taxation of intra-EU B2B supplies of goods. The opinion paper can be found here:
For more information on the EU VAT Expert Group and to take their survey related to the ongoing study on applying the ‘destination principle’ to intra-EU B2B supplies of goods, please visit:
3. Don’t miss early bird rates for the FIATA World Congress
Do not miss the great opportunity to attend the FIATA World Congress 2014, taking place from October 13th to 18th 2014 in Istanbul, Turkey. This year the motto is “Sustainable Growth in Logistics.” We are preparing an exciting Congress for you and you can look forward to a very interesting agenda including: several new FIATA projects will be presented to the industry; updates from the various Institutes, Advisory Bodies, and Working Groups; and guest speakers that will enrich our knowledge of trends in different areas of interest to our industry.
We would like to kindly remind you that the deadline for the early bird is fast approaching. Early Bird Registration runs until June 30th, 2014. On the website: www.fiata2014.org you will find more information and the registration form.
4. Reminder: China Customs Advance Manifest (CCAM) Regulation effective June 28th 2014
A reminder that the enforcement of China 24-hour Advance Manifest Rule in Shanghai as a pilot will be in effect starting June 28th 2014. Though the China 24 hour rule was first introduced and the official trial run period started in 2009, its compliance was not mandatory until now.
These regulations require carriers to submit vessel manifests for China bound cargo 24 hours before loading at ports outside China. It has been reported that the enforcement date is vessel arriving Chinese ports on or after June 28th 2014. Taking into account average transit times, the rules are already valid.
Please refer to the following link for more information:
5. Multi-industry letter to FMC on proposed labour unrest congestion surcharges
TIA, the FIATA Association in the US, joins several organisations representing manufacturers, farmers, wholesalers, retailers, distributors, and transport and logistics providers in a letter to the Federal Maritime Commission. The letter is in regards to the proposed changes in port congestion surcharges announced by ocean carriers due to labour disruptions at West Coast ports.
The letter asks for greater clarification on the specifics of the new surcharges, including some ambiguous wording, and suggests alternatives to their implementation.
For information on the surcharge rules please visit: http://www.joc.com/maritime-news/container-lines/fmc-clarifies-west-coast-congestion-surcharge-rules_20140604.html
For more information on the work of the TIA, please refer to their webpage: http://www.tianet.org/AM/template.cfm?section=Home
6. First National Workshop in a new UNCTAD Green Exports programme to be held in Quito, Ecuador, on June 10th and 11th 2014
Ecuador becomes the first country to undergo UNCATD’s Green Export Programme which aims to develop national “green sectors” to create new productive capacity, employment and export diversification opportunities while promoting sustainable development. The workshop marks the first step in an innovative process which will result in the first National Green Export Review (NGER) authored by Ecuadorian experts with the support of UNCTAD.
For more information on the Ecuador’s undertaking the UNCTAD’s Green Exports Programme please visit: http://unctad.org/en/pages/newsdetails.aspx?OriginalVersionID=758&Sitemap_x0020_Taxonomy=International%20Trade%20and%20Commodities;
7. New Canadian anti-spam rules in effect July 1st!
On July 1st 2014, Canada's Anti-Spam Law (CASL) enters into force. This new legislation will affect any business that promotes their products/services electronically via email, social media or instant messaging.
CASL targets any electronic communication that could be considered to "encourage participation in a commercial activity." Any email, text message, instant message (IM) and messages sent through social networks that have a commercial aspect will be considered to be a Commercial Electronic Message (CEM), and will require express or implied consent. Your business needs to obtain express or implied consent from your electronic mailing lists in order to continue to send electronic messages.
For additional information please visit the CIFFA website were you will find a synopsis of the key point of the act with a list of resources and references to develop your plan of action to be in compliance with the new CASL Law. https://www.ciffa.com/issues_general.asp
20 June 2014