International Standard Banking Practice ISBP

No. @745E

ISBN : 978-92-842-0199-0

International Standard Banking Practice - ISBP 745 is the most up to date, comprehensive guide to handling and examining trade documents under documentary credits. An invaluable source of practical information for trade finance professionals and academics, this revised edition of ISBP provides readers with the latest ICC approved guidelines for all parties to documentary credits. ISBP 745 details how to apply banking practices under UCP600 to various trade documents (invoices, transport documents, bills of lading, certificates of origin…) and features the following documents, which were not covered in previous editions : • Packing list • Weight list • Beneficiary certificate • Non-negotiable sea waybills • Analysis, Inspection, Health, Phytosanitary, Quantity and Quality certificates The professionals’ reference book to best banking practices for international L/C documents subject to UCP600, ISBP has already played a significant role in reducing international discrepancies for documentary credits and is regularly consulted by a wide range of banking, logistics, insurance, legal and corporate professionals and academics worldwide. International Standard Banking Practice is also available in French. Follow the links for a description in the respective languages.

Code ISBN : 978-92-842-0199-0
Language : English

 

1.    Introduction

 

2.    Preliminary considerations

 

a.    Scope of the publication

 

b.    The credit and amendment application, the issuance of the credit and any amendment thereto

 

3.    General principles

 

a.    Abbreviations

 

b.    Certificates, Certifications, Declarations and Statements

 

c.    Copies of transport documents covered by UCP 600 articles 19-25

 

d.    Correction and alteration (“correction”)

 

e.    Courier receipt, post receipt and certificate of posting in respect of the sending of documents, notices and the like

 

f.     Dates

 

g.    Documents and the need for completion of a box, field or space

 

h.    Documents for which the UCP 600 transport articles do not apply

 

i.      Expressions not defined in UCP 600

 

j.      Issuer of documents

 

k.    Language

 

l.      Mathematical calculations

 

m.   Misspellings or typing errors

 

n.    Multiple pages and attachments or riders        

 

o.    Non-documentary conditions and conflict of data

 

p.    Originals and copies

 

q.    Shipping marks

 

r.     Signatures

 

s.    Title of documents and combined documents

 

4.    Drafts and calculation of maturity date

 

a.    Basic requirement

 

b.    Tenor

 

c.    Maturity date

 

d.    Banking days, grace days, delays in remittance

 

e.    Drawing and signing

 

f.     Amounts

 

g.    Endorsement

 

h.    Correction and alteration (“correction”)

 

i.      Drafts drawn on the applicant

 

5.    Invoices

 

a.    Title of invoice

 

b.    Issuer of an invoice

 

c.    Description of the goods, services or performance and other general issues related to invoices

 

d.    Instalment drawings or shipments

 

6.    TRANSPORT DOCUMENT COVER ING AT LEAST TWO DIFFERENT MODES OF TRANSPORT (“multimodal or combined transport document”)

 

a.    Application of UCP 600 article 19

 

b.    Issuance, carrier, identification of the carrier and signing of a multimodal transport document

 

c.    On board notation, date of shipment, place of receipt, dispatch, taking in charge, port of loading or airport of departure

 

d.    Place of final destination, port of discharge or airport of destination

 

e.    Original multimodal transport document

 

f.     Consignee, order party, shipper and endorsement, and notify party

 

g.    Transhipment, partial shipment and determining the presentation period when multiple sets of multimodal transport documents are presented

 

h.    Clean multimodal transport document

 

i.      Goods description

 

j.      Indication of name and address of delivery agent at destination

 

k.    Corrections and alterations (“corrections”)

 

l.      Freight and additional costs

 

m.   Release of goods with more than one multimodal transport document to be surrendered

 

7.    Bill of lading

 

a.    Application of UCP 600 article 20

 

b.    Issuance, carrier, identification of the carrier and signing of a bill of lading

 

c.    On board notation, date of shipment, pre-carriage, place of receipt and port of loading

 

d.    Port of discharge

 

e.    Original bill of lading

 

f.     Consignee, order party, shipper and endorsement, and notify party

 

g.    Transhipment, partial shipment and determining the presentation period when multiple sets of bills of lading are presented

 

h.    Clean bill of lading

 

i.      Goods description

 

j.      Indication of name and address of delivery agent at port of discharge

 

k.    Corrections and alterations (“corrections”)

 

l.      Freight and additional costs

 

m.   Release of goods with more than one bill of lading to be surrendered

 

8.    Non-negotiable sea waybill

 

a.    Application of UCP 600 article 21

 

b.    Issuance, carrier, identification of the carrier and signing of a non-negotiable sea waybill

 

c.    On board notation, date of shipment, pre-carriage, place of receipt and port of loading

 

d.    Port of discharge

 

e.    Original non-negotiable sea waybill

 

f.     Consignee, order party, shipper, and notify party

 

g.    Transhipment, partial shipment and determining the presentation period when multiple sets of non-negotiable sea waybills are presented

 

h.    Clean non-negotiable sea waybill

 

i.      Goods description

 

j.      Indication of name and address of delivery agent at port of discharge

 

k.    Corrections and alterations (“corrections”)

 

l.      Freight and additional costs

 

9.    Charter party bill of lading

 

a.    Application of UCP 600 article 22

 

b.   

R.V. Balasubramani, Director – Senior Advisor, Center of Excellence & Quality Management, Global Trade Finance, BNP Paribas, India Graham Christiansen, Regional Manager Business Risk, Global Trade and Receivables Finance, Europe, HSBC Bank plc, UK Carlo Di Ninni, Consultant to ICC Italy, former Consultant to Italian Bankers Association, Italy Wolfgang Heiter, (retired), Deutsche Bank, Germany Ed Jongenelen, Managing Director, Energy, Commodities & Transportation Services, ABN AMRO, The Netherlands Iqbal Ibrahim Karmally, Senior Vice President, Head of Trade Finance, Sharjah Islamic Bank, UAE David Meynell, Owner, TradeLC Advisory, Ex-Deutsche Bank, UK Rene Mueller, Director, Credit Suisse AG, Switzerland Kim Sindberg, Trade Finance Consultant, Sindberg Consult, Denmark Charnell C. Williams, CDCS, Director, Citi Global Trade Services Product Manager, USA Zhongmin Zha, Deputy General Manager, Branch Manager of Beijing Branch, Head of China Wholesale Banking, CITIC Bank International (China) Limited, China The Drafting Group’s appreciation is also due for the support, input and guidance provided by the ISBP Consulting Group throughout this revision process and that operated under the chairmanship of John Turnbull (UK) and King Tak Fung (Hong Kong).

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