国际贸易 备用信用证ISP的讲义.pptVIP

备用信用证 ISP98 主讲人：陈 虹 备用信用证 Types and Uses of Standby LC Difference between Standby LC and Commercial LC ISP98 ISP98 UCP500 Compared Sample wording of SBLC Performance Standby “… customer failed to ship in accordance with the contract” “… customer failed to complete construction” Financial Standby “… customer failed to pay note on due date” “… represents payment of customer debt” “… represents funds we were required to pay in satisfaction of customer obligation” Sample wording of SBLC Commercial Standby “The amount of this drawing $...... under bank L/C No. …… represents funds due us as attached invoice is 30 days past due.” copy of invoice copy of transport document. Sample wording of SBLC Direct Pay Standby Standby intended to cover principal plus interest for extended period Standby issued for principal amount of obligation plus interest for one period This Standby will be the payment vehicle for periodic interest. (direct pay) What articles of UCP500 will most likely not apply to Standby Credits?*Article 23 to 38 *Article 41 *Article 43 ISP98 UCP500 Compared Why is the rule in respect of closure on a business day in relation to ISP98 and Standby Credit important? Standby amount : US$1 million Demand : US$1 million Invoice enclosed shows US$2 million Acceptable? Yes (Rule3.08) The documents are consistent with the terms of the standby but not with each other. Is this acceptable? Yes (Rule4.03) Partial Shipments / Drawings ISP98 - Art.3.08 Partial Drawing and Multiple Presentation; A presentation may be made for less than the full amount available (“partial drawing”) More than one presentation (“multiple presentations”) may be made. The statement “partial drawings prohibited” means that a presentation must be for the full amount available. The statement “multiple drawings prohibited” means that only one presentation may be made and honored but that