ISP98(BEneficiary address)

RashidHasan · Post by **RashidHasan** » Tue Apr 21, 2009 1:00 am

There has been a general discussion regarding a Demand for payment under a standby letter of credit subject to ISP98.
The question is:
If the documents presented by the beneficiary indicated an address different from the address shown in the letter of credit, would this be considered a discrepancy under a standby letter of credit subject to ISP98.?

NigelHolt · Post by **NigelHolt** » Wed Apr 22, 2009 1:00 am

I do not see anything in ISP98, or in documentary credit, demand guarantee or standby letter of credit practice, that would entitle one to refuse a demand because the address of the beneficiary quoted in any demand was different from that quoted in the undertaking.

DanielD · Post by **DanielD** » Wed Apr 22, 2009 1:00 am

See, Hoever, art. 4.03 and Official Commentary:" this rule affirms that the only consistency at issue in the examination of documents under a standby is with respect to the terms and conditions of the standby itself" but for me:???
Regards

Daniel