other rules in ISP98

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
jim
Posts: 91
Joined: Fri Aug 15, 2008 11:58 am

other rules in ISP98

Post by jim » Fri Apr 03, 2009 5:23 pm

dear sir,
ISP98
1.02 Relationship to law and other Rules
(a) These Rules supplement the applicable law to the extent not prohibited by that law.
(b) These Rules supersede conflicting provisions in any other rules of practice to which a standby letter of credit is also made subject.
what is the other rule here?

Ozoda
Posts: 56
Joined: Wed Mar 11, 2009 5:50 pm

ISP98 and UCP 600

Post by Ozoda » Fri Apr 03, 2009 7:09 pm

For example the standby LC may be subject to ISP98 and at the same time to UCP 600.

Post Reply