International Standby Practices 98 is written exclusively for standbys. Developed by the Institute of International Banking Law and Practice, ISP98 is the standardized text for the use of standbys worldwide and offers a precise and detailed framework for practitioners dealing with standby letters of credit.
These uniform rules will reduce the cost and time of drafting, limit problems in handling and avoid countless disputes and unnecessary litigation that have resulted from the absence of internationally agreed rules on standby.
Phone +41 44 421 34 50
Fax +41 44 421 34 88