ISBP 821
The ICC's International Standard Banking Practice for examining documents under UCP 600, including insurance documents.
ISBP 821 is the International Chamber of Commerce’s publication on International Standard Banking Practice for the Examination of Documents under UCP 600. It sets out how banks examine the documents presented under a documentary credit, including transport documents, invoices and insurance documents.
The full article will cover the structure of the publication, the insurance document section and its interaction with UCP 600 Article 28, and the discrepancies that most often cause an insurance document to be rejected. The cargo insured value article covers how this topic affects the sum insured on a cargo policy.