ISP98 Official Commentary

Singapore Court Affirms Judgment, Rejects Applicant’s ISP98 Arguments

In DJY v. DJZ[[1]] involving a standby letter of credit, the Appellate Division of Singapore’s High Court dismissed

Shinetec (Australia) Pty Ltd. v. The Gosford Pty Ltd. [2024]

Contractor Shinetec (Australia) and parent company Shanxi Construction Investment Group (standby applicant) appealed dismissal of claims against beneficiary The Gosford.

Australia and New Zealand Banking Group Ltd. Manila Branch v. China National Electric Engineering Co., Ltd. & Bank of Jiangsu [2023]

Disputes over Independent Guarantee Fraud, Independent Guarantee Payment, and Improper Dishonor

The Milky Whey, Inc. v. HSBC Bank USA, N.A. [2024]

Confirming Bank moved to dismiss Beneficiary complaint for wrongful dishonor. ISP98 Standby subject to New York Law.

IIBLP Response to June 2021 ISP98 Query from ICC