Official Commentary on the International Standby Practices

  • $ 129.00

The Official Commentary on The International Standby Practices is the authoritative rule-by-rule analysis of ISP98, authored by its drafters.

Author: Professor James E. Byrne

Editor: James G. Barnes

Type of Product: Softbound Book – 353 pages / eBook (new!)


A must for those who work with standby letters of credit on a regular basis, The Official Commentary of The International Standby Practices is the first source that bankers, lawyers, corporates, consultants, academics, and other LC professionals turn to for guidance and explanation regarding ISP98.

Written by Professor James E. BYRNE and edited by James G. BARNES, each of the 89 rules of ISP98 is analyzed in depth, including context and implications. Back in print and available for the first time since 2005, The Official Commentary on The International Standby Practices delivers clear, concise explanations that are readily understood and immensely useful.

Analysis of each rule contains:

  • 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

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