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De range of standby users bankers, merchants, rating agencies, corporate treasurers, credit managers, government officials and banking regulators. Like the UCP for commercial credits, ISP98 is destined to become the standard for the use of standbys in international transactions. 1. At its thirty-second session in 1999, the Commission considered, on the basis of a report of the SecretaryGeneral,1 a request by the Director of the Institute of International Banking Law and Practice, Inc. to c.

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