Commercial letters of credit are the lifeblood of the international trade system and, for more than 70 years, the International Chamber of Commerce (ICC) has established the rules governing documentary credits worldwide. Used by letter of credit practitioners (including bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions worldwide), Uniform Customs and Practice for Documentary Credits (UCP) are the most successful private rules for trade ever developed. UCP 600 entered into force on July 1, 2007 and contains substantive changes to the existing rules that all international business professionals need to know. This version of UCP 600 also includes eUCP (ICC's supplement to the UCP governing presentation of documents in electronic or part-electronic form) and a glossary of international trading terms.

International Standard Banking Practice (ISBP) for the examination of documents under documentary credits, answers the most relevant questions practitioners have concerning how UCP 500, ICC's universally used rules on documentary credits, are to be integrated into day-to-day practice. The product of more than two years of work by the ICC Banking Commission, ISBP is based on the official Opinions issued by the Banking Commission in response to queries submitted by users of UCP 500. The text provides responses to the key questions relating to the examination of drafts, multimodal transport documents, insurance documents, certificates of origin and a range of other documents associates with letters of credit. This publication reflects international standard banking practice for all parties to a documentary credit. Figures show that 60%-70% of credits are rejected for discrepancies on first presentation. The new ISBP, by encouraging a uniformity of practice worldwide, is expected to cut these figures dramatically and, by doing so, to facilitate the flow of world trade.

Bills of Lading and Bankers’ Documentary Credits provides a straightforward guide to the nuances and complexities of deals conducted under the documentary credit system. The book describes in detail the law applicable to and the practical workings of bankers' documentary credits as they are used in international sales and carriage of goods contracts in a way that is accessible to both lawyers and to businessmen who have to use these contracts on a day-to-day basis. In its fourth edition, Bills of Lading and Bankers’ Documentary Credits has been completely updated to take account of recent case law and developments including the UCP 600 as well as progress in electronic and other documentation since the last edition.