International Commerce and Information Review (통상정보연구)

Korea Association for International Commerce and Information (한국통상정보학회)
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A Study on the Limitations on the Application of the ISBP of ICC

ICC/ISBP의 실무적용상의 한계에 관한 연구

  • 박성철 (배화여자대학 사이버무역과)
  • Received : 2003.10.02
  • Accepted : 2003.11.25
  • Published : 2003.12.25
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Abstract

ISBP(International Standard Banking Practice for the Examination of Documents under Documentary Letters of Credit) was approved in Rome in October 2002 and was published in January 2003. ISBP was already stipulated on the article 13(a) of UCP 500 as the basis of examination of documents. But there was no specific contents on what is ISBP. So, by using the ISBP of the ICC, bank practitioners can bring their practices in line with these followed by their colleagues worldwide. In this Article, the writer will compare with UCP 500 and ISBP and korea banks' practice and consider the possibility of conflict among them. To the conclusion, It is recommended to reestablish the relations between UCP 500 and ISBP. And It is also required to maintain the consistency in using the terms calculation the period and using the reserving wordings.

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