ISP98

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hanifmb
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ISP98

Post by hanifmb » Tue Apr 06, 2010 7:32 pm

Is a standby credit subject to ISP98 also subject automatically to URR725 ?

Appreciate your comment. TQ.
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phanikrishna
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Isp 98 is used with stand by letter of credits

Post by phanikrishna » Tue Apr 06, 2010 7:58 pm

NO, IF LC issued in the terms of UCP600 then it deals with the rules of UCP600 and any specifications about any rembersements then URR will apply but not for the ISP98 by the way ISP98 deails with Stand by letter of credits where banks acts up on guareente.
May be in my view, LC can issue with the terms of UCP600, isp98,URR725, will be acceptable
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