ISBP 821

International Standard Banking Practice – ISBP

for the Examination of Document under UCP 600

ISBN978-623-91631-2-9
Publishing Date2023
PublisherICC Indonesia
LanguageBilingual: Bahasa Indonesia – English
ICC Publication NumberP821E
Authors● 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
TranslatorICC Indonesia
PriceRp 350.000,-
Availabilityin stock

Description
Table of contents
How to order
Description
Description
Table of contents
How to order

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.

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
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Note:

  • Price above is excluded the shipping cost
  • Estimated shipping costs for delivery from Jakarta to Jakarta, with JNE REG or JNE YES according to the applicable price (estimated: JNE REG IDR 9,000/kg or JNE YES IDR 18,000/kg).
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