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ISP98 rules not to be revised

14/12/2015 As reported at the Institute of International Banking Law & Practice (IIBLP) Standby & Guarantee Forum, the ISP98 rules will not be revised, but efforts are underway to revise the ISP98 Official Commentary.

The IIBLP also reported that the Council on the International Standby Practices will also be issuing official interpretations of questions regarding ISP practice.

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ICC release Technical Advisory Briefing No. 11 - Definition of Trade Finance 19/09/2024

Recognising that there is no global standard for the defining Trade Finance, this Briefing document provides a suggested text and has been recommended for use by the ICC Banking Commisison Steering Committee...more

ICC release Technical Advisory Briefing No. 10 - Amendments 14/08/2024

This briefing, focussing on the acceptance and rejection of amendments, describes the necessary process for the proper handling of tamendments and the best practices associated with determining their acceptance or rejection...more

Latest Question

A road transport document is issued on the letterhead of ABC Limited, and it is signed: On behalf of the carrier with a round stamp of ABC LIMITED and signed. Does the stamp identify the carrier and the signature fulfil the condition of signed by the carrier? Will it apply to other transport documents too?