dear friends,
UCP defines compliance as that meet UCP, LC and ISBP where ISBP does not mean ISBP 681. i would like to know ISBP from whose point of view? Issuing bank or nominated bank? can a ISBP in conflict with the ISBP 681?
International standard banking practice
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Judith
- Posts: 118
- Joined: Thu Mar 12, 2009 8:59 am
good question
Unfortunately, there is no straight answer to this question.
At this point, while there was some talk about revising ICC’s ISBP publication, there are no concrete plans. Normally, the world of “international standard banking practices” exceeds the information given in the ICC publication 681 but does not usually contradict it.
If there is a dispute, ultimately the ICC / DOCDEX / court will decide what is “international standard banking practices”.
At this point, while there was some talk about revising ICC’s ISBP publication, there are no concrete plans. Normally, the world of “international standard banking practices” exceeds the information given in the ICC publication 681 but does not usually contradict it.
If there is a dispute, ultimately the ICC / DOCDEX / court will decide what is “international standard banking practices”.