ICC / governing rules
What an incorporated rulebook such as UCP 600, ISP98, URDG 758, URC 522 or another applicable framework says.
Method · Sources · Updates
How MyGreed decides what to teach
How MyGreed separates formal rules, SWIFT standards, bank policy and negotiated market practice.
Four layers are kept separate
Banking-instrument discussions often become confusing because rules, message formats, bank requirements and private transaction procedures are described as though they are the same thing. MyGreed deliberately separates them.
SWIFT standards
What a message type or structured field is designed to communicate between participating financial institutions.
Bank policy
What a specific bank may require for credit, collateral, compliance, legal approval, operations, pricing or message release.
Negotiated procedure
What the commercial parties or their banks agree for a specific transaction, including steps that may be common in one market but not universal.
Source hierarchy
Where a topic depends on a formal rule or message standard, MyGreed points learners toward primary sources such as ICC, SWIFT and official regulatory or industry bodies. The Academy explains concepts in original plain English rather than reproducing proprietary rulebooks.
Market terminology
Terms such as “leased instrument”, “purchased SBLC”, “BPU”, “RWA”, “BCL”, “test copy” or “monetisation” can be used differently across markets. MyGreed explains the possible meaning, then asks what legal right, bank obligation, message or credit decision actually exists.
No automatic authenticity or financeability verdict
An authentic bank message does not automatically prove every commercial claim surrounding a transaction. Likewise, an authentic undertaking is not automatically drawable, transferable, assignable, acceptable as collateral or financeable. MyGreed uses educational risk prompts rather than claiming that a browser tool can replace bank authentication, legal review or credit approval.
Update approach
Standards, bank products and market infrastructure change. Material that is sensitive to current rules or SWIFT releases should be checked against the current official source before it is used for a live transaction. This version of the Academy was reviewed in September 2026.