04/07/2023
Effective July 1st, 2023, an updated version of ISBP is introduced to align with the approved official opinions between 2013 and 2023. As a result, "nine Opinions are recognized as containing content that would be meaningful for addition within the ISBP".
These are now included in the ISBP 821:
"- New Preliminary Consideration viii) stating that the absence of a credit number, or the mistyping of a credit number, on a document, is not a valid reason for refusal. (Opinion 876rev)
- New Preliminary Consideration ix) providing that administrative conditions, such as a requirement for an additional photocopy of all documents, or a statement that all documents may not be stapled, should not be incorporated by an issuing bank in a credit. (Opinion 915 rev)
- Add 'Industries' to paragraph A1 (Abbreviations). (Opinion 837 rev)
- Add new paragraph A17 (b) (Documents and the need for completion of a box, field, or space) stating that there is no requirement for the applicant name, address, and contact details (if any) to appear in a specific box, field or space on an invoice. (Opinion 818rev)
- Add new paragraph A31(b) (copy documents) stating that copies of documents need not be signed and move existing A31(b) to A31(c). (Opinion 842rev3)
- Add new paragraph C7 (general issues relating to invoices) providing that an invoice presented under a credit issued in USD, bearing only the "$" sign without further qualification, fulfills the requirement of UCP 600 sub-article 18 (a)(iii) unless data in the invoice itself, or another presented document, implies that the "$" sign may refer to a currency other than USD. (Opinion 814rev4)
- Add new paragraphs D5 (e) (multimodal transport document), E5 (e) (bill of lading), & F4 (e) (non-negotiable sea waybill) stating that the signature of the master (captain) may be accompanied by a stamp that incorporates the name of the vessel. (Opinion 813)
- Add new paragraph G4 (c) (charter party bill of lading) stating that the signature of the master (captain) may be accompanied by a stamp that incorporates the name of the vessel. (Opinion 836rev)
- Add new paragraph K2 (b) stating that UCP 600 does not require that an agent or proxy is to be named in an insurance document and move existing paragraph K2 (b) to K2 (c). (Opinion 835rev)"
Also, the eUCP and eURC aligned with The Model Law on Electronic Transferable Records (MLETR) in respect of issues pertaining to electronic transferable records.
