The standard for the examination of documents under documentary credit has been depending on International Standard Banking Practice appeared in UCP 500. There have been many problems in solving the claims of trade in practical field. For settlement of these problems, banking technical, practical committee in I.C.C had made the special task force team in May, 2000, studied for 2 years and 6 month, and established the standard of examination of document In this study, I tried to explain all the paragraphs of ISBP exactly and suggest the method of modification against these problems. Second, I want to compare each paragraph of ISBP with I.C.C opinion, UCP 500 and actual cases and find out problems in applying ISBP to actual cases. Third, I also exert to suggest the method of modification about these problem. Finally, the methods of this study was made by referencing I.C.C opinion, decisions, the relating section of UCP and ISBP. I hope this study would be helpful to the concerning parties in academic and practical field.

The standard for the examination of documents under documentary credit has been depending on International Standard Banking Practice appeared in UCP 500. There have been many problems in solving the claims of trade in practical field. For settlement of these problems, banking technical, practical committee in I.C.C had made the special task force team in May, 2000, studied for 2 years and 6 month, and established the standard of examination of document In this study, I tried to explain all the paragraphs of ISBP exactly and suggest the method of modification against these problems. Second, I want to compare each paragraph of ISBP with I.C.C opinion, UCP 500 and actual cases and find out problems in applying ISBP to actual cases. Third, I also exert to suggest the method of modification about these problem. Finally, the methods of this study was made by referencing I.C.C opinion, decisions, the relating section of UCP and ISBP. I hope this study would be helpful to the concerning parties in academic and practical field.

ISBP, UCP, transport documents, Foreign exchange bill, invoice, Insurance document, certificate of Origin