Can an advising bank refuse to advise a L/C which is subject to UCP500 after 1Jul2007? Applicant may indicate L/C to be subject to UCP500 due to the commercial contract which made reference to UCP500.

Would it be advisable always to select for Field 40E 'OTHER/UCP500'
or 'OTHER/UCP600' so as to oblige the specialist to take extra care on the rules? Defaulting it as 'LATEST VERSION' may pose a problem.