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International Standard Banking Practice - 2013 Edition (ISBP 2013)

What is International Standard Banking Practice - 2013 Edition (ISBP 745)?











ICC defines the importance of new International Standard Banking Practice edition with these words "An invaluable source of practical information for trade finance professionals and academics, this revised edition of ISBP provides readers with the latest ICC approved guidelines for all parties to documentary credits." ICC emphasize that ISBP is the best reference book in banking practices for international letters of credit documents subject to UCP 600. Use of ISBP has significantly reduced international discrepancies for documentary credits and is regularly used by banking, logistics, insurance, legal and corporate professionals and academics worldwide.  It is a great companion book with UCP 600.














What is new with the International Standard Banking Practice 2013 for documentary credits?

Previous International Standard Banking Practice which is called ISBP 2007 published in year 2007 by ICC was covering below trade documents:
  • DRAFTS 
  • INVOICES
  • TRANSPORT DOCUMENT COVERING AT LEAST TWO DIFFERENT MODES OF TRANSPORT
  • BILL OF LADING
  • CHARTER PARTY BILL OF LADING
  • AIR TRANSPORT DOCUMENT
  • ROAD, RAIL OR INLAND WATERWAY TRANSPORT DOCUMENTS
  • INSURANCE DOCUMENT AND COVERAGE
  • CERTIFICATES OF ORIGIN
In addition to above stated documents International Standard Banking Practice - ISBP 2013 also covers;
  • PACKING LIST
  • WEIGHT LIST
  • BENEFICIARY CERTIFICATE
  • NON-NEGOTIABLE SEA WAYBILLS
  • ANALYSIS, INSPECTION, HEALTH, QUANTITY AND QUALITY CERTIFICATE
If you would like to have more information on International Standard Banking Practice - ISBP 2007 you can check my related information page by clicking here.


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What is the importance of international standard banking practice for documentary credits?
As of July 2013 International Standard Banking Practice - ISBP 2013 is the latest and the most comprehensive guide to handling and examining trade documents under letters of credit. ISBP 2013 published by ICC with the ICC Publication No. 745.
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ISBP 745
Who can use International Standard Banking Practice - ISBP 2013 in documentary credit transactions?
All professionals, banking, logistics, insurance, legal and corporate professionals and academics worldwide, who deal with documentary credits can use International Standard Banking Practice - ISBP 2013 as a 1st reference book on their daily routine. 
History of ISBP publications? 
  • International Standard Banking Practice for the Examination of Documents under Documentary Credits - ISBP 2002 - ICC publication No: 470
  • International Standard Banking Practice for the Examination of Documents under Documentary Credits - ISBP 2007 ICC publication No: 645
  • International Standard Banking Practice for the Examination of Documents under Documentary Credits - ISBP 2013 ICC Publication No. 745