How to Handle Export LCs & BLs: Understanding the Revised ISBP 821 & Clarifications to UCP 600 - 11th run

All it takes is just one discrepancy in export letters of credit (LCs) and bills of lading (BLs) to result in non-payment. To avoid discrepancies, those handling LCs and BLs must know the UCP 600 and ISBP 821 thoroughly. While UCP 600 was effective in July 2007, the ICC Banking Commission approved the latest ISBP (International Standard Banking Practices) in July 2023 to supplement and clarify the UCP 600 further, detailing key principles of document preparation, and rules for the examination of documents. What was previously considered a discrepancy is now no longer valid discrepancies for an issuing bank to reject payment. It's imperative that importers, exporters and bankers alike are updated with the UCP 600 and ISBP 821.

This workshop is case-based, interactive and highly practical.

Key Topics

ICC Documentation Standards under ISBP 821 and UCP 600

• Abbreviations, certifications & declarations, dates
• Corrections & alterations on documents - must they be authenticated?
• Misspelling & typo errors - is this a discrepancy?
• Date terminologies, from & after
• Inconsistencies in documents - are they discrepancies?
• Issuer of documents
• Drafts (bills of exchange) - words & figures differ, which will be taken as the amount demanded?
• Shipping documents - what do they refer to?
• Title of documents vs data content - which is more important
• Invoices - tax invoice, commercial invoice, final invoice, consular invoice, pro-forma invoice, provisional invoice, etc goods description, Incoterms source
• Ocean / marine / liner bills of lading
• Charterparty bills of lading, tanker bills of lading, congen bills of lading
• Non-negotiable seaway bills
• Multi-modal bills of lading
• Airway bills
• Road, rail or inland waterway transport documents
• Insurance documents
• Certificates of origin
• Packing list, note or slip
• Weight list, note or slip
• Beneficiary's certificate, analysis, inspection, health, phytosanitary, quantity, quality and other certificates