A must for practitioners who need to stay up-to-date with daily practice in letters of credit, collections and guarantees.
“Sellers, forwarders, and banks need to know what a reasonable document checker will do with the seller’s documents. The ICC Banking Commission has many of the answers, and now they are available in one place – ICC Banking Commission Opinions 2005-2008. This is a valuable book for sellers concerned about shipping during a recession with falling markets.” - John F. Dolan, author of The Law of Letters of Credit.
UCP 600, ICC's newly revised rules on documentary credits gave rise to queries from banks, lawyers and shippers worldwide, and this latest Opinions book, provides precise answers to the key questions raised. The 79 Opinions in this book include the first Opinions rendered on UCP 600, ICC’s universally used rules on documentary credits, which came into effect on 1 July 2007. This important volume also contains Opinions on ISBP 681, the revised version of the widely acclaimed International Standard Banking Practice for the Examination of Documents under Documentary Credits, as well as the final Opinions on UCP 500, and recent Opinions on the Uniform Rules for Collections (URC) and the Uniform Rules for Demand Guarantees (URDG 458).