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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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Enabling digital trade through legal reform: A guide for policymakers and practitioners 12/05/2026

The ICC’s Digital Standards Initiative recently published a new MLETR implementation guide “Enabling digital trade through legal reform: A guide for policymakers and practitioners”, to support adoption of legally recognised electronic transferable records...more

Is your automatic extension (evergreen) clause as specific as it should be? 21/04/2026

Case: Starr Indemnity & Liability Co...more

Latest Question

The credit calls for 'FULL SET OF ORIGINAL INSURANCE CERTIFICATE / POLICY IN ASSIGNABLE FORM AND ENDORSED IN BLANK, COVERING ALL RISKS FROM WAREHOUSE TO WAREHOUSE FOR AT LEAST 110PCT OF THE INVOICE VALUE, SHOWING CLAIMS PAYABLE IN VIETNAM IN THE INVOICE CURRENCY'. The presented insurance document covers risks from port of loading to port of discharge, not showing 'from warehouse to warehouse'. Can the insurance certificate be treated as a discrepancy?