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Institute of International Banking Law & Practice

The Official Commentary on the International Standby Practices: ISP98

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Analysis of each ISP98 rule, containing:

  • Statement of its origin and place in standby practice
  • Analysis of the issues addressed by the Rule
  • Cross references
  • List of applicable ISP provisions
  • Reference to other sources such as the UCP, URDG, UCC Article 5 & UN Convention
  • Bankers who use standbys and demand guarantees
  • Lawyers dealing with standbys and demand guarantees
  • Corporates working with standby letters of credit or guarantees
  • Professionals needed guidance regarding ISP98

The Institute of International Banking Law & Practice offers a number of resources to aid in transactions subject to ISP98. They include:

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