Standby Letters of Credit: A Comprehensive Guide Book

1 An Overview 1

2 Scope and Application of the ISP98 6

3 Obligations 26

4 Presentation 37

5 Examination of Documents 59

6 Notice, Preclusion and Disposition of Documents 84

7 Transfer, Assignment and Transfer by Operation of Law 100

8 Cancellation 112

9 Reimbursement Obligation 115

10 Timing 119

11 Syndication/Participation 122

12 Types and Uses of Standby LCs 125

13 Roles and Responsibilities 138

14 Risk Management 184

15 Fraud Detection and Prevention 195

16 Presentation and Settlement 209

Index 225