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ISBP plays an important role as one of standard rules in LC transaction by supplementing UCP. Established in 2002, ISBP was once updated in 2007 and its final revision(ISBP745) was completed in April 2013. Major changes of general principles and drafts in ISBP745 include: First, dating is required according to the nature of certificates. Second, when the credit requires that documents be in a certain language, that will control, but if the credit is silent, the documents can be in any language. Third, a document required by a credit that is to cover more than one function may be presented as a single document or a separate documents that appear to fulfil each function.
