calculation of time under ISP98

richemon24 · Post by **richemon24** » Mon Mar 22, 2010 8:24 pm

Hi,

As per Rule 9.03 Calculation of TIme of ISP 98 states " A period of time which an action must be taken under these rules begins to run on the first business day following the business day when the action could have been undertaken at the place where the action should have bee undertaken"

Appreciate if anyone can explain and give an example as possible for to understand further.

thanks

riche

shahriar · Post by **shahriar** » Mon Mar 22, 2010 9:30 pm

the rule may be interpreted as follows -

a period will be calculated following the business day when the required event has occur. for easy understanding you may compare it to the five day document examination day of UCP 600. in UCP 600 5 days start ticking from the banking date following the date of presentation. similar thing is said in this ISP rule but in broader context.

richemon24 · Post by **richemon24** » Mon Mar 22, 2010 11:30 pm

thanks...................