In response to recurrent requests for ICC opinions on the subject, ICC has published recommendations to help clarify requirements, and to guide banks in the correct interpretation and application of the ICC Uniform Customs and Practice for Documentary Credits (UCP) in relation to on board notations.
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An updated version of ICC’s popular banking publication, International Standard Banking Practice (ISBP) for the Examination of Documents Under Documentary Credits, is now available.
By a unanimous vote of 71-0, the ICC Commission on Banking Technique and Practice approved an updated version of its widely acclaimed publication, International Standard Banking Practice for the Examination of Documents under Documentary Credits (ISBP). The voting took place at the commission’s meeting in Singapore yesterday.
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