ISBP revision

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
hassan
Posts: 90
Joined: Tue May 20, 2008 5:19 pm

ISBP revision

Post by hassan » Wed Dec 16, 2009 3:18 pm

Dear all,
as probably you know the ISBP 681 is going to be revised by ICC soon. what is your proposal to be included in revised ISBP(either new documents/practices or omiting/modifying the existing paragraphs)?

thank you,

hassan
Posts: 90
Joined: Tue May 20, 2008 5:19 pm

ISBP

Post by hassan » Fri Dec 18, 2009 12:46 am

isn,t there any view point?

iLC
Posts: 504
Joined: Thu Jun 26, 2008 10:33 pm

whats the use

Post by iLC » Sat Dec 19, 2009 6:01 pm

before the revision, i would suggest to decide the use of the ISBP. the most clear view i have received from ICC is that its a book that helps to understand application of UCP rules. so including many documents and new rules (?!) which actually has no link to UCP will bring nothing but confusion

hassan
Posts: 90
Joined: Tue May 20, 2008 5:19 pm

ISBP revision

Post by hassan » Mon Dec 21, 2009 12:22 am

Dear iLc,
it is an excelent sujestion. i agree with you . despite being useful of ISBP you can not depend on it as stongly as UCP becuase it is not rule. therefore firs of all ICC should decide about use of ISBP so that to make it strong enoph.
at the same time I sujest some other docs wich are required in some L/Cs , other than those exsit in ISBP, also to be covered by it. such as packing list, kins of certificates and so on.

User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

ISBP

Post by picant » Mon Dec 21, 2009 4:27 am

Hi Pals,

ISBP came from more opinions issued by ICC and published later, when not yet at disposal in booklet but contained in special web, against payment.
I find them very interesting and useful as the points bring to the light many aspects, not well known to documents checker worldwide. ICC commission has to review all the literature concerning its previos work, erasing opinions not still available or not more applicable. ICC will, in this case, provide the banking system with common rules as base to work, without investigate too much.

other comments appreciated

ciao

Post Reply