Applying Updated ISBP 681 to Interpret UCP 600 New Articles

(T. O. International Trade Seminars)


ISBP 645 has been updated to ISBP 681 for interpretation of new articles in UCP 600, giving further definitions, detailed explanations and examples. The new concepts in UCP 600 may not be fully understood by the L/C community and can easily lead to mis-interpretations that would lead to disputes and discrepancies. Mr. T. O. Lee is a member of the UCP 600 Consulting Group from Canada and recently rated as one of the 9 best L/C experts in the world by L/C Views USA. He is familiar with L/C related topics like bill of lading, charter party, multimodal transport, cargo insurance, commodity trade, Incoterms 2000, trade frauds, China trade and risk management. Hence he is the most suitable speaker to explain the new concepts in UCP 600 by applying the updated ISBP 681 that should be effective simultaneously with UCP 600 on the 1st July 2007.

Contents Outline

  1. Official Name, Background Information of ISBP 681
  2. Objectives, Nature & Application
  3. Introduction, Preliminary Considerations & General Principles
  4. Drafts & Calculation of Maturity Date
  5. Invoices
  6. Multimodal Transport Document
  7. Bill of lading
  8. Charter Party Bill of Lading
  9. Air Transport Document
  10. Road, Rail or Inland Waterway Transport Documents
  11. Insurance Document & Coverage
  12. Certificates of Origin
  13. Case Studies


Mr. T. O. Lee

Mr. Lee is one of the World's ten best letter of credit experts according to a global survey by "L/C Views" USA in 2005. He is an ICC DOCDEX Letter of Credit Expert and a Member of the UCP 600 Consulting Group. He is actively involved in ICC Commercial Crime Bureau UK and is a member of the Editorial Board of the ICC Publication "Documentary Credits Insight", a Technical Adviser of "L/C Monitor" in Canada and "L/C Views" in USA. He is a Fellow and an Accredited Expert of the Academy of Experts, Gray's Inn, London; a Member of the United Nations International Multimodal Transportation Association, Geneva; and a Member of the Institute of Training and Development, England.

He is a columnist in the Lloyd's of London Press "Maritime Asia/Intermodal Asia" magazine, a Friday columnist in the "Hong Kong Economic Journal" 《信報》. He chairs public seminars in China, Hong Kong, Macau, Taipei, Malaysia, Middle East, USA and Canada, providing in-house training and consultancy services to Fortune 500 corporations and banks globally. His professional workshops are known for the 4 "i's" - interesting, insightful, inspiring and interactive. He also provides expert witness services to international legal firms in letter of credit litigations.


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