The International Chamber of Commerce (ICC) has published a new paper providing an updated discussion on the challenges associated with the implementation of controls relating to price misrepresentation risk in trade finance transactions; the prevalent financial industry-wide approach to price checking, and the feasibility of potential price checking controls.

Price checking of goods and services in trade transactions aims to summarise best practices and recommendations for financial institutions engaged in trade finance, recognising that a variety of approaches may be valid based on the individual circumstances of respective institutions, and that no single solution or approach will be appropriate for all.