ISBP 745 Section C: Commercial Invoice and the Beneficiary Requirement Under Documentary Credits

Introduction

ISBP 745 Section C is Invoices. It is read with UCP 600, not instead of it. This extract letters C1)–C15) for this document type. C1) a. When a credit requires presentation of an “invoice” without further description, this will be satisfied by the presentation of any type of invoice (commercial invoice, customs invoice, tax invoice, final invoice, cons C2) a. An invoice is to appear to have been issued by the benefic iary or, in the case of a transferred credit, the second beneficiary. b. When the beneficiary or second beneficiary has changed its name and the credit mentio C3) The description of the goods, services or performance shown on the invoice is to correspond with the description shown in the credit. There is no requirement for a mirror image. For example, details of the goods may be s

Applying these paragraphs

ISBP 745 is read with UCP 600, not instead of it. Apply the paragraphs in this section to the document type they actually name.

Conclusion

Section C compiles Invoices. Do not mutate the letter onto another instrument. Draft Field 46A so the presentation can compile against both UCP 600 and these paragraphs.

FAQ

What document does ISBP 745 Section C cover?

Invoices.

Does Section C replace the matching UCP 600 transport or insurance article?

No. ISBP 745 is read with UCP 600. The UCP article the credit invoked still governs.

Can a bank refuse on an ISBP paragraph the credit never invoked as a term?

ISBP describes how UCP 600 is applied. It does not add documents. Extra documents are disregarded under UCP 600 Article 14(g).