Trade Finance Updates – ISBP 821

18 Oct 2023, 9:00 am

Since its initial publication in 2002, the International Standard Banking Practice (ISBP) for the examination of documents under UCP 600, 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 was recently updated and became effective on 1 July 2023. The updated rules, ISBP 821 align with several ICC Opinions, incorporating significant additions to the rules. It addresses, among others, terminology, preliminary conditions, signatures and signs, multimodal transport documents & insurance documents.

Course objectives:
Identify the new provisions under the ISBP
Learn from expert commentary on the ISBP provisions
Learn of UCP 600 articles and ICC opinions relevant to ISBP provisions
Understand ISBP provisions related to documents required for presentation under documentary credit

Trade Finance Practitioners
Letter of Credits Experts
Correspondent Bankers
Lawyers, insurance & logistics experts
Everyone who works with Letters of Credit

Dr Soh Chee Seng, Chief Executive, DC Trade Consultancy Services Pte Ltd., Associate Director of The Institute of International Banking Law & Practice and Technical Adviser to Association of Banks in Singapore.