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I NTERNAT I ONAL COMMERC I AL LAW
21
An insurance document may contain reference to any exclusion
clause
Such stipulation listing specific exclusion clauses was the result of
ICC Official Opinions Documents. However, the problem is because such
listing is not exhaustive, it will easily bring possibility and uncertainty for
banks to judge which exclusions may be accepted and which exclusions
may not. It follows that some banks may refuse insurance documents
bearing an exclusion clause which is not listed in the stipulation mentioned
above. If so, such practice may be against insurance practice as it is usual
and acceptable practice for the insurer to insert exclusion clauses.