What Is International Standard Banking Practice

[Md.zakir Hossen]

Pls tell me what is international standard banking practice?is it only limited to icc publication no-681 and or something else.

[iLC]

dear zakir,

ISBP 681 is just a collection of some common rules. UCP600 does not refer to any publication no. thus UCP600 has a much broader concept. personally i do not like this clause as any bank may come with a new practice and say "Hello!!! this is a ISBP!!!"

iLC

[nesarul]

Dear zakir bhai,
hope fine,
According ti introduction of ISBP:
"No single publication can anticipate all the terms or the documents that may be used in connection with documentary credits or their interpretation under UCP 600 and the standard practice it reflects...."
moreover it is interesting to note that ISBP didn't mention how to examine the common asked document like packing list.
regards
nesar

[Md.zakir Hossen]

This is the reason why UCP do not indicate to ICC publication no 681 is the only International Standard Banking Practice.