Settlement of Documentary Credit Disputes under DOCDEX System

This study aims to present the unique product of International Chamber Commerce for dispute resolution in area trade finance, namely Documentary Instruments Dispute Resolution Expertise (DOCDEX). The ICC Banking Commission, together with Court Arbitration, has designed these distinct set rules documentary credit issues, specifically adapted resolve disputes over interpretation and monitoring implementations. DOCDEX took effect 1997 was reviewed from 2002. According DOCDEX, will engage independent experts who make their decision. decision be considered by Commission’s technical adviser ensure that it is line other opinions ICC. made on basis material provided parties, including arguments. discusses functioning Rules, how a what law applicable system. Moreover, attention devoted an exploration difference between system arbitration. Lastly, found not binding parties but can even more likely used as evidence if referred court or arbitration tribunal.