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.
Prompted by the perceived lack of general awareness of ISBP 821 provisions for handling certificates, the ICC Banking Commission addressed “Handling of Certificates under Documentary Credits subject to the UCP 600” in Technical Advisory Briefing No. 8 (TAB-8).
