An Overview on ISBP

Md. Siddiqur RahmanCDCS, DAIBB, DIB

Senior Vice PresidentIBBL, HO, Dhaka

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Abbreviations

6. Ltd. Int’l, Co. Kg. Ind. Mt. etc.

7. Slash should not be used

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Application & Issuance

1. Documents- which, by whom & time frame

4. Documents issued or countersigned by the applicant

5. Avoiding details in the underlying transaction.

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Corrections

9. Document issued by other than beneficiary- specified & authenticated

10. Document except draft issued by beneficiary- need not be authenticated

11. Multiple type style, Font size, hand writing

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Dates

13. Drafts, transport document & Insurance document must be dated

14. Document including PSI may be dated after the date of shipment

15. Date of signing is the date of preparation

18. Dates may be in different formats. Name of the months should be used

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Document for which UCP do not apply

19. DO, FCR, FCS etc- not transport

document

20. Copies are not transport document

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Expressions not defined in UCP

21. Shipping document,

- stale document

- 3rd party document

- exporting country

should not be used.

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Language & Mathematical Calculation

23. Documents- in the language of the credit.

24. Detailed mathematical calculation not checked

- only total values

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Misspelling & typing error

25. Acceptable if it does not affect the meaning

‘Mashine’ “modle’ etc.

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Multiple pages and attachments

27. Signature- first or last page of the documents unless specified.

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Shipping Mark

34. Must show as mentioned but additional information acceptable.

36. Container number 1/0 shipping mark is acceptable

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Signature

37. Draft, certificates and declaration by their nature require signature

Transport & Insurance document must be signed as per UCP

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Title of Documents

41. As called for or similar or untitled

- packing list, packing note, packing & weight list

42. Document listed should be presented as a separate documents

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Tenor

43. -Must be possible to establish maturity

-On board date is the date of B/L

- the earliest when more than one on board notations

- the date of the last B/L when more than one set.

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Maturity date

47. Drawee Bank must advise the maturity date

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Amounts

50. Words & Figures must be accurate and should indicate currency

51. Amount must agree with that of the invoice

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Invoice

57. Any type except provisional, pro-forma.

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Description of goods

58. Must correspond not a mirror image

59. Must reflect actual shipment

61. Trade term………………

64. Must not show- over shipment or merchandise not called for

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Transport Document

69. Need not be titled multimodal or Combined transport document.

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On Board notations

73. Issuance date or the date of the notation

74. ‘Shipped in apparent good order’ ‘Laded on board clean on board’ acceptable.

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Place of loading on Board & Destination

75. Must indicate actual place (ex. Any European port).

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Clean Transport Documents

82. Defective condition of goods or packaging.

83. Acceptable even if the word clean is deleted

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Consignee, Order party etc.

101. Straight or to order must be complied .

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Goods Description

108. In general terms not in conflict with the credit

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Airport of departure & destination

141. Use of IATA code acceptable (ex. LHR).

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Consignee, Order party etc.

143. AWB should not be issued to order as it is not a document of title.

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Road, Rail, Inland Waterway Transport Documents.

158. Duplicate/Carbon copy of RR is acceptable as original.

- Railway bill without showing the named of the carrier is acceptable

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Certificate of Origin

182. Certificate issued by a Chamber of Commerce is acceptable

- any party including the beneficiary may issue if not specified.

185. Consignor or exporter may be different from the beneficiary or the shipper.

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Partial Shipment

164. Shipment on more than one means of conveyance (truck, trais, vessel etc.)

185. Consignor or exporter may be different from the beneficiary or the shipper.

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