International Standby Practices ISP98 - eBook

Though SBLCs have similarities with commercial LCs, there are significant differences in scope and practice and a new set of rules was required

Another set of invaluable ICC rules, ISP98 offers a precise and detailed framework for practitioners dealing with standby letters of credit

Destined to become the industry standard for the international use of SBLCs

Reflects practices from a wide range of standby users: bankers, merchants, rating agencies, corporate treasurers, government officials  and regulators

USD $22 - Buy Now
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eBook Summary

Description

Though standby letters of credit have similarities with commercial letters of credit and other financial instrument, there are significant differences in scope and practice. A new set of Rules was therefore required for this workhorse of commerce and finance and ISP98 fills this important gap in the market place.

ISP98 reflects a distillation of practices from a wide range of standby users: bankers, merchants, rating agencies, corporate treasurers, credit managers, government officials and banking regulators.

Like the UCP for commercial credits, ISP98 is destined to become the industry standard for the use of standbys in international transactions. Another set of invaluable ICC rules, ISP98 offers a precise and detailed framework for practitioners dealing with standby letters of credit.

Table of contents

CONTENTS

FOREWORD

 

PREFACE

 

PROLOGUE

 

RULE 1: General Provisions

 

RULE 2: Obligations

 

RULE 3: Presentation

 

RULE 4: Examination

 

RULE 5: Notice, Preclusion, and Disposition of Documents

 

RULE 6: Transfer, Assignment, and Transfer by Operation of Law

 

RULE 7: Cancellation

 

RULE 8: Reimbursement Obligations

 

RULE 9: Timing

 

RULE 10: Syndication / Participation

 

 

APPENDICES

 

Index

 

Acknowledgements

 

ICC at a glance

 

Institute of International Banking Law and Practice, Inc

 

Source Products For Global Business

Details

  • Publishing date: 1998
  • Number of pages: 69
  • Language: English

Authors

Professor James E. Byrne Director, Institute of International Banking Law & Practice, Inc.; Chair & Reporter, ISP Working Group

James G. Barnes Baker & McKenzie; Vice Chair, ISP Working Group Gary W. Collyer Vice President, Citibank, N.A; Chair, ICC Ad Hoc Working Group & Technical Adviser to the ICC Banking Commission

Important note

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Please note upon receiving your eBook, you will have 60 days to download it. Kindly note that the eBook link is for one user only. The eBook cannot be lent (one eBook link per user). 

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