ISBP英文版

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Introduction

At its May 2000 meeting the Commission on Banking Technique and Practice of the

International Chamber of Commerce (the “ICC Banking Commission”) chartered a Task

Force to document international standard banking practice for the examination of documents

as reflected in the articles of the Uniform Customs and Practice for Documentary Credits.

While the Task Force has based its work on International Chamber of Commerce Publication

No. 500 (UCP), the principles set forth here are likely to be generally applicable to

succeeding revisions, because this statement of practice is consistent with the UCP and the

Opinions and Decisions of the ICC Banking Commission. The final product reflects the input

from ICC National Committees and individual ICC members. Grateful acknowledgement is

made of the thousands of hours contributed by members of the Task Force and others.

In the opinion of the ICC Banking Commission, this document states international standard

banking practice as reflected in the articles of UCP. This document supplements and explains

the practices on which the UCP is based and should not be viewed as an amendment to the

UCP. Some of these practices are assumed in UCP, while others are implied, therefore this

document must be read in conjunction with the relevant UCP provisions.

No exercise can anticipate all the terms or the documents that may be used in connection with

documentary credits (“credits”) or their interpretation under the UCP and the standard

practice it reflects, much less the evolution of practice in response to changing commercial

needs. Nevertheless, a serious attempt has been made to address discrete issues that

commonly arise but are not expressly treated in the UCP in light of the principles that shape

standard banking practice. The application of the UCP, and the practices documented in this

publication, should enable parties to deal successfully with almost any examination

eventuality.

Apart from technical rules of standard practice it must be recognized that the successful

completion of a transaction also requires good faith on the part of all involved and the

exercise of sound judgement.

It must also be recognised that the credit can vary standard banking practice, as stated in

Article 1 of UCP. Any term in a credit which modifies or affects the applicability of the UCP

will also have an impact on the standard banking practices. Therefore, in considering

documentary compliance, parties must observe and take into account any term in a credit that

expressly excludes or modifies a provision in an Article of the UCP. While this principle is

assumed throughout this document, it is sometimes expressly stated for emphasis or to

illustrate a principle. The absence of such a reference, however, does not imply that the terms

of the credit may not override the general proposition stated in these practices.

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This publication is organised into three parts. The first is “Preliminary Considerations”. The

second addresses ”General Principles” which may apply to any document. The third deals

with documents commonly required by credits.

The International Standard Banking Practice for the Examination of Documents articulates

international standard banking practice for issuers, nominated banks, and beneficiaries.

Applicants, however, should not assume that they may rely on these provisions in order to

excuse their obligations to reimburse the issuer, since their obligations, rights, and remedies

depend upon their undertaking with the issuer, the performance of the underlying transaction, Angus E-mail: ********************

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and the timeliness of any objection under applicable law and practice.

The UCP and this publication should be read in their entirety. Please note that the heading of

each section is for reference as to intent and purpose only. It is not to be construed as other

than solely for benefit or guidance. There should be no legal imputation.

Document 470/951rev3

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PRELIMINARY CONSIDERATIONS

The Application and Issuance of the Credit

1. The terms of a credit are independent of the underlying transaction even if the credit

expressly refers to that transaction. To avoid unnecessary costs, delays, and disputes in

the examination of documents, however, the applicant and beneficiary should carefully

consider which documents should be required, by whom they should be produced, and

the time frame for presentation.

2. The applicant bears the risk of any ambiguity in its instructions to issue or amend a credit.