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Every year, trade transactions of over US$1 trillion are conducted on the basis of these ICC rules on documentary credits—now known as UCP600—yet international Get this from a library! ISP98 & UCP500 compared : a comparison of the International Standby Practices (ISP98) (ICC publication No. 590) and the Uniform International Standby Practices ISP 98 published by the International Chamber of Commerce (ICC), ICC Publications No. 590 or the provisions of the ICCSeries Publication (International Chamber of Commerce) ; no 590. Note "Approved by the ICC Commission on Banking Technique and Practice on 6 April 1998"--T.p. International Chamber of Commerce is the voice of world business championing the global economy as a force for economic growth, job creation and prosperity. 590. ISP98 means the International Standby Practices (1998 Revision, effective January 1, 1999), International Chamber of Commerce Publication No. 590. The current version is ISP98, ICC Publication No 590. For information on ISP98 and standby letters of credit, see Practice note, Bonds, guarantees and standby International Standby Practices, International Chamber of Commerce Publication No. 590 (1998). ISP98 is one of the two most common sets of industry rules The current version, abbreviated as "ISP" or “ISP98”, has been endorsed by the International Chamber of Commerce (designated as ICC Publication No. 590) and the