International Standard Banking Practice - ISBP

No. P821E

ISBN : 978-92-842-0646-9

Since its initial publication in 2002 (Publication 645), International Standard Banking Practice (ISBP) has become an invaluable aid to trade finance professionals when creating documents for presentation under, or for the examination of documents presented under, a documentary credit. It comprises a compilation of banking practices that are to be applied when working with documentary credits that are subject to UCP 600. ISBP demonstrates how the principles and content of UCP 600 should be integrated into day-to-day practice by providing readers with detailed practices that are to be considered and applied when working with different trade documents (invoices, transport documents, insurance documents, certificates of origin…). ISBP also provides coverage of documents which are not specifically mentioned in UCP.

New to this edition

The 2023 edition of ISBP covers, practices identified from Opinions approved by ICC national committees since 2013, and clarifies amongst others:

  • Terminology
  • Preliminary conditions
  • Signatures and signs
  • Multimodal transport document
  • Insurance documents 

International Standard Banking Practice — 2023 edition is the most up to date guide for the examination of documents under documentary credits reflecting practices agreed by ICC national committees. It also serves as an aid to a beneficiary of a documentary credit in its creation and presentation of documents to a nominated bank or issuing bank. The publication should always be read in conjunction with UCP 600. 

Kindly note that the English-German version of ISBP 821 is also available: 

https://www.iccgermany.de/produkt/isbp-821-ed-print/

https://www.iccgermany.de/produkt/isbp-821-ed-ebook/

Code ISBN : 978-92-842-0646-9
Weight : 0.1500 kgs
Number of pages : 97
Publishing date : 2023
Language : English
Format in cm : 13.5*23

Introduction

Preliminary considerations

Scope of the publication

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

General principles

Abbreviations

Certificates, certifications, declarations and statements

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

Correction and alteration (“correction”)

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

Dates

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

Documents for which the UCP 600 transport articles do not apply

Expressions not defined in UCP 600

Issuer of documents

Language

Mathematical calculations

Misspellings or typing errors

Multiple pages and attachments or riders

Non-documentary conditions and conflict of data

Originals and copies

Shipping marks

Signatures

Title of documents and combined documents

Drafts and calculation of maturity date

Basic requirement

Tenor

Maturity date

Banking days, grace days, delays in remittance

Drawing and signing

Amounts

Endorsement

Correction and alteration (“correction”)

Drafts drawn on the applicant

Invoices

Title of invoice

Issuer of an invoice

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

Instalment drawings or shipments

Transport document covering at least two different modes

of transport (“multimodal or combined transport document”)

Application of UCP 600 Article 19

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

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

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

Original multimodal transport document

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

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

Clean multimodal transport document

Goods description

Indication of name and address of delivery agent at destination

Corrections and alterations (“corrections”)

Freight and additional costs

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

Bill of lading

Application of UCP 600 Article 20

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

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

Port of discharge

Original bill of lading

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

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

Clean bill of lading

Goods description

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

Corrections and alterations (“corrections”)

Freight and additional costs

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

Non-negotiable sea waybill

Application of UCP 600 Article 21

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

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

Port of discharge

Original non-negotiable sea waybill

Consignee, order party, shipper, and notify party

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

Clean non-negotiable sea waybill

Goods description

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

Corrections and alterations (“corrections”)

Freight and additional costs

Charter party bill of lading

Application of UCP 600 Article 22

Signing of a charter party bill of lading

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

Port of discharge

Original charter party bill of lading

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

Partial shipment and determining the presentation period when multiple sets of charter party bills of lading are presented

Clean charter party bill of lading

Goods description

Corrections and alterations (“corrections”)

Freight and additional costs

Release of goods with more than one charter party bill of lading to be surrendered

Charter party contracts

Air transport document

Application of UCP 600 Article 23

Issuance, carrier, identification of the carrier and signing of an air transport document

Goods accepted for carriage, date of shipment and requirement

for an actual date of shipment

Airports of departure and destination

Original of an air transport document

Consignee, order party and notify party

Transhipment, partial shipment and determining the presentation period when multiple air transport documents are presented

Clean air transport document

Goods description

Corrections and alterations (“corrections”)

Freight and additional costs

Road, rail or inland waterway transport documents

Application of UCP 600 Article 24

Carrier, identification of the carrier and signing of a road, rail or inland waterway transport document

Place of shipment and place of destination

Original and duplicate of a road, rail or inland waterway transport document

Consignee, order party and notify party

Transhipment, partial shipment and determining the presentation period when multiple road, rail or inland waterway transport documents are presented

Clean road, rail or inland waterway transport document 

Goods description

Corrections and alterations (“corrections”)

Freight and additional costs

Insurance document and coverage

Application of UCP 600 Article 28

Issuer, signing and original of an insurance document

Dates

Amount of cover and percentage

Risks to be covered

Insured party and endorsement

General terms and conditions of an insurance document

Insurance premium

Certificate of origin

Basic requirement and fulfilling its function

Issuer of a certificate of origin

Content of a certificate of origin

Packing list, note or slip (“packing list”)

Basic requirement and fulfilling its function

Issuer of a packing list

Content of a packing list

Weight list, note or slip (“weight list”)

Basic requirement and fulfilling its function

Issuer of a weight list

Content of a weight list

Beneficiary’s certificate

Basic requirement and fulfilling its function

Signing of a beneficiary’s certificate

Content of a beneficiary’s certificate

Analysis, inspection, health, phytosanitary, quantity, quality

and other certificates (“certificate”)

Basic requirement and fulfilling its function

Issuer of a certificate

Contents of a certificate

ICC Banking Commission at a glance

About ICC

Trade finance publications and the ICC Digital Library

● Gary Collyer, Collyer Consulting
● Manuel José Giao Sánchez, Banco Santander
● Mohammad Imam, Jordan Islamic Bank
● Birgit Karpp, LBBW
● A. T. M. Nesarul Hoque, Mutual Trust Bank
● Glenn Ransier, Wells Fargo
● Kim Sindberg, Nordea

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