Standby Letter of Credit subject to UCP 600 , ISP 98
Posted: Mon Feb 25, 2013 12:00 am
What I find quite objectionable, if I have understood it correctly, is Rita’s suggestion that one would make any form of express reference to the ISP in a standby stated to be subject to the UCP. In the circumstances described by Rita the relevant article of ISP should be quoted in full -with suitable modification- so that none of the parties have to consult two sets of rules.
[edited 2/25/2013 3:06:11 PM]
[edited 2/25/2013 3:06:11 PM]