Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
Pavel Andrle is an international trainer and consultant. He is the founder of Trade Finance Consulting, s.r.o., www.tradefinanceconsulting.com. He can be reached at: pa@cmail.cz.
Explore ISP98's evolution and global impact on standby LCs - 25 years on. Discover its unique features, comparisons with UCP 600 & URDG 758, and the challenges users face.
