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Document 470/1010 PAGE 4 International Chamber of Commerce The world business organizationDepartment of Policy and Business PracticesInternational Chamber of Commerce38, Cours Albert 1er, 75008 Paris, France 27 October 2003 RK/adTelephone +33 1 49 53 28 28 Fax +33 1 49 53 28 59 Document 470/1010Internet E-mail icc@Commission on Banking Technique and PracticeMeeting on Wednesday 10 December and Thursday 11 December 2003Hotel ITC Maurya Sheraton, Diplomatic Enclave, Sadar Patel Marg, New Delhi 110 021, IndiaRevision of UCP 500 – Issues Identification PaperFollowing the agreement reached at the Banking Commission meeting in May 2003, the ICC established two groups to begin the review of UCP 500. Since July 2003, these two groups, the Drafting and the Consultation Groups, have carried out a review of the issues that have resulted in Opinions being approved by the Banking Commission. In the attached document, following the text of each UCP Article, the Drafting Group has highlighted those issues with the notation “ID”. After the issues were identified, the Consultation Group had the opportunity to review the issues, in particular where the Drafting group indicated that an issue either needs to be considered in the UCP revision (indicated by the word "Consider") or not (indicated by the word "No"). In addition, some members of the Consultation Group have offered further comments regarding issues for possible inclusion in the review process and these have been included within the document in the box following the one containing the “ID” issues.At the New Delhi Banking Commission meeting, the Drafting Group will provide a fuller explanation of the process to date and the results of their recent meeting in Frankfurt, in order to keep the members abreast of what has happened and future meetings/courses of action. Banking Commission members will be invited to share their own views about the issues presented in the attached paper and the comments made by the Consultati
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