📄 ISBP 821 – International Standard Banking Practice for Documentary Credits
US Capital Private Bank Knowledge Base
🔍 Overview
The International Standard Banking Practice (ISBP) 821 provides guidelines for examining documents presented under documentary credits. It complements the Uniform Customs and Practice for Documentary Credits (UCP 600) by clarifying how bankers and practitioners should apply the rules in practice.
⚖️ Key Details
| Icon | Topic | Description |
|---|---|---|
| 📚 | Purpose | Explains how documentary credit practitioners apply UCP 600 rules for document compliance. |
| ⚠️ | Not an Amendment | ISBP 821 does not amend UCP 600 but is meant to be read alongside it for clarity and standardization. |
| ✅ | Reduces Discrepancies | Helps lower the rate of document refusals on first presentation by standardizing document examination. |
| 📝 | Standard Practices Included | Offers a comprehensive checklist for verifying documents like invoices, transport documents, insurance, certificates, and more. |
📑 Content Breakdown of ISBP 821
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Preliminary considerations
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General principles
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Drafts and maturity date calculations
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Invoices
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Transport documents for multimodal or combined transport
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Bill of lading and charter party bill of lading
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Non-negotiable sea waybill
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Air transport documents
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Road, rail, or inland waterway transport documents
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Insurance documents and coverage
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Certificates of origin
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Packing lists and weight lists
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Beneficiary’s certificates
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Various certificates, including analysis, inspection, health, phytosanitary, quality, and quantity
⚙️ Practical Usage
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ISBP 821 is not to be incorporated explicitly in documentary credit terms as the requirement to adhere to agreed practices is implicit in UCP 600.
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It serves as an intelligent guide for banks and beneficiaries preparing documents, ensuring global acceptance and consistency.
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